The initiative aims to advance the shipping industry’s energy structure transformation, foster its eco-friendly growth, and contribute to the development of a globally interconnected green, low-carbon, and sustainable shipping ecosystem.
The companies will collaborate on developing technologies to lower emissions and build a green fuel supply chain. This includes the potential for Fortescue to use Cosco Shippingvessels or vessels owned by the two parties, powered by green ammonia, to ship iron ore and other mineral products with the aim of reducing China-Australia Iron Ore Green Shipping Corridor’s carbon emissions.
The signing ceremony was attended by CEO of Fortescue Metals, Dino Otranto, and Lin Ji, Executive Vice President of Cosco Shipping.
“The shipping industry plays a vital role in global trade however also contributes significantly to the world’s carbon emissions” said a spokesperson for Fortescue. “This partnership marks a significant step of the shipping industry in decarbonizing and establishing a green fuel supply chain. It also paves the way for collaboration on a variety of decarbonization solutions which we believe will be integral to delivering on our ambitious target of net zero Scope 3 emissions by 2040.”
Cosco Shipping is also intending to establish a marine new energy industry chain and eco-friendly shipping solutions, anchored by green fleets, sustainable shipping practices, and eco-conscious ports, all geared towards fostering the industry’s green, low-carbon, and sustainable development throughout its entire life cycle.
For additional information:
