Star Bulk Carriers announces the signing of a joint letter of intent to develop an iron ore green corridor
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, has 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.
Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Oslo, New York, Limassol and Singapore. Star Bulk operates a fleet of 128 vessels, with an aggregate capacity of 14.1 million dwt, consisting of 17 Newcastlemax, 22 Capesize, 2 Mini Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax and 17 Supramax vessels with carrying capacities between 52,425 dwt and 209,537 dwt.