Star Bulk Carriers Corp. , a global shipping company focusing on the transportation of dry bulk cargoes, today announced the signing of a joint letter of intent to establish a consortium to assess the development of an iron ore Green Corridor between Australia and East Asia, led by the Global Maritime Forum and along with its partners BHP, Rio Tinto, and Oldendorff Carriers GmbH & Co. KG.

Green Corridors are specific shipping routes where the economics, infrastructure, and logistics of zero- or near-zero emission shipping are more feasible and rapid deployment can be supported by targeted policy and industry action. The parties in the consortium intend to jointly assess green ammonia supply, bunkering and first mover support mechanisms, necessary for their participation in a viable Australia to East Asia iron ore Green Corridor. The consortium will facilitate a robust public-private dialogue to investigate conditions that need to be in place to mobilize demand and to feasibly scale zero or near-zero-GHG emission shipping on the corridor. Through their work and with inputs from the wider supply chain, the partners aim to develop a framework as a preparatory step towards real-world implementation of a green iron ore shipping value chain.

“Focusing on the feasibility of decarbonizing specific trade routes of the world is an indispensable step to create the foundation for the maritime energy transition,” says Charis Plakantonaki, Chief Strategy Officer of Star Bulk Carriers Corp. “Consistent with our vision to lead in the industry’s efforts to phase out GHG emissions, Star Bulk is committed to partnering up with other frontrunners to enable progress in this multi- dimensional, yet so critical for our future, challenge.”

Source: Hellenic Shipping News