Tuesday, 30/07/2024, 15:00 (GMT +7)
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COSCO and Fortescue Collaborate to Build a Green Fuel Supply Chain
COSCO SHIPPING and Fortescue, a global green technology, energy and metals company, signed a memorandum of understanding (MOU) in Shanghai on July 25.
According to the agreement, both parties will leverage their respective technological and resource strengths to jointly develop a sustainable green fuel supply chain. The initiative aims to promote the energy transformation of the shipping industry, promote environmentally friendly growth, and contribute to the realization of a green, low-carbon and sustainable shipping ecosystem globally.
According to the MOU, both companies will collaborate to develop technologies to reduce emissions and build a green fuel supply chain. This includes the possibility of Fortescue using COSCO SHIPPING vessels or vessels owned by both parties, powered by green ammonia, to transport iron ore and other mineral products with the aim of reducing the carbon footprint of the China-Australia Iron Ore Green Sea Shipping Corridor.
Source: Phaata.com (via ContainerNews)
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