Highlights

• Fortescue and COSCO Shipping partnership to decarbonise shipping.
• The focus is on developing green ammonia as a marine fuel to power ships.
• Aims to create a greener shipping route for iron ore transportation between Australia and China.

Fortescue, a green technology and metals company, and COSCO Shipping, a global shipping company, have partnered to clean up the shipping industry.

Together, they will develop technology to cut pollution and create a supply chain for sustainable fuels.

A key part of their plan is to build ships that run on green ammonia to carry iron ore between Australia and China. This could lower emissions on this major trade route.

Fortescue CEO Dino Otranto and COSCO Shipping Executive Vice President Lin Ji signed the agreement in Shanghai.

Otranto said, “The shipping industry plays a vital role in global trade however also contributes significantly to the world’s carbon emissions. This collaboration marks a significant step in decarbonising the shipping industry and establishing a green fuel supply chain. It also paves the way for collaboration on a variety of decarbonisation solutions which we believe will be integral to delivering on our ambitious target of net zero Scope 3 emissions by 2040.”

Lin Ji added, “COSCO SHIPPING is committed to green and low carbon as one of the two major development tracks, increasing cooperation with global partners, joining hands to jointly build a digital, green, open, shared and safe industry development ecosystem, and actively promoting the sustainable development of green and low carbon in the entire life cycle of the shipping industry.”

Fortescue has already made progress in developing ammonia-powered ship engines. Their ship, the Fortescue Green Pioneer, was the first in the world to be certified to use a mix of ammonia and diesel as fuel. It has also successfully tested its engines in Singapore.

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Source: Fortescue