Maritime industry partners with leading global mining companies to support Green Iron Ore Corridor between Australia and East Asia

To mobilize demand for green shipping and scale zero or near zero greenhouse gas emissions shipping, governments and industry decision makers are increasingly looking to enable and simplify the task of decarbonizing the maritime sector by establishing green corridors: specific maritime routes where the economics, infrastructure and logistics of zero or near-zero emission maritime transport are more feasible and rapid deployment can be supported by targeted policy and industry action.

“Greenhouse gas emission-free pathways require the creation of a parallel value chain that involves new ways of working, new contractual relationships and stimulates the development of decarbonized fuel production and infrastructure. This new collaboration on the Iron Ore Green Corridor is an important step towards the possibility of greenhouse gas emission-free transportation, both on the supply and demand side,” says Johannah Christensen, CEO of the Global Maritime Forum.

Last year, the Getting to Zero coalition’s report The Next Wave demonstrated how green corridors can be designed, prioritized and designed with a pre-feasibility study for an iron ore road between Australia and South Asia. ballast. The study suggested that green ammonia is the likely fuel choice for this corridor based on favorable production conditions, a favorable regulatory environment and willing stakeholders.

To take the study further, the consortium parties intend to jointly assess the green ammonia supply, bunkering and first mover support mechanisms necessary for their participation in a viable green corridor for the iron ore between Australia and East Asia.

“BHP’s membership in this Green Corridor consortium demonstrates the importance we place on focused exploration and partnerships in identifying pathways to decarbonizing the maritime sector. As one of the largest bulk shippers in the world, we recognize this opportunity and have announced a number of partnerships across our value chain to seek to accelerate the process,” says Mr. Rashpal Bhatti, Vice President of Maritime Excellence and Supply Chain at BHP.

Through the work of the consortium and input from the wider supply chain, the partners aim to develop a framework as a preparatory step for real-world implementation of a shipping value chain. green iron ore.

Laure Baratgin, head of commercial operations at Rio Tinto, said: “As a leading charterer, we recognize that we have an important role to play in decarbonising our own shipping and the industry in general. This collaboration is another important step towards accelerating the delivery of our shipping climate commitments, as part of Rio Tinto’s broader goal of net zero emissions by 2050 and a reduction of 50 % by 2030, and supports efforts to provide our customers and partners with sustainable value. -chain solutions.

The results of the Green Corridor collaboration aim to lay the foundations for the actual implementation of the Green Corridor.

“Focusing on the feasibility of decarbonizing specific trade routes around the world is an essential step in laying the foundations for the maritime energy transition. In line with our vision to lead industry efforts to phase out GHG emissions, Star Bulk is committed to partnering with other pioneers to enable progress in this multidimensional challenge, but so critical to our future.” , says Charis Plakantonaki, director of strategy at Star Bulk Carriers Corp.

The new consortium will facilitate robust public-private dialogue to explore the conditions that need to be in place to mobilize demand and to scale zero- or near-zero emissions shipping on the corridor in a feasible manner.

Peter Twiss, CEO and President of Oldendorff Carriers, said: “Oldendorff Carriers is excited to work with like-minded industry leaders to accelerate shipping decarbonization solutions. We see our commitment to environmental stewardship as an urgent obligation and helping to establish a green corridor on one of the most important trade routes is a big step forward.
Source: World Maritime Forum