Fortescue, an Australian iron ore producer, and Cosco Shipping, a major Chinese shipping firm, have initiated a collaboration to develop ships powered by ammonia, a compound of nitrogen and hydrogen, which is gaining attention as a potential green fuel due to its carbon-free combustion. When produced using renewable energy sources, ammonia offers a sustainable alternative to traditional marine fuels, helping to significantly reduce greenhouse gas emissions.
The companies have signed a preliminary agreement to work together on the construction and deployment of ammonia-fueled vessels. These ships will operate in the Australia-China iron ore shipping corridor, and they aim to lower the environmental impact of transporting mineral products. The collaboration involves either building new vessels or co-owning existing ones, all powered by green ammonia.
The partnership between Fortescue and Cosco is expected to pave the way for significant advancements in green shipping technologies and support the establishment of a sustainable fuel supply chain, contributing to global decarbonization goals.
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