LOI Signed to Assess Australia-Asia Net Zero Corridor
Net Zero Corridor Under Consideration
As the demand for reduced emissions shipping options continues increasing, industry leaders are searching for new and innovative ways to decarbonize. To this end, recently, the Global Maritime Forum led a consortium which included companies such as Rio Tinto, Star Bulk Carriers Corp., and BHP. The companies signed a letter of intent (LOI) to begin developing a net zero emissions iron ore corridor between Asia and Australia.
Global Maritime Forum CEO, Johannah Christensen, said, “Zero-greenhouse gas emission pathways require the creation of a parallel value chain that involves new ways of working, new contractual relationships, and drives the development of decarbonized fuel production and infrastructure. This new iron ore green corridor collaboration is an important step towards enabling zero greenhouse gas emission shipping from both the supply and demand side.”