COSCO SHIPPING and Fortescue, a global green technology, energy and metal company, inked a memorandum of cooperation in Shanghai, on July 25.
Under the agreement, both parties will leverage their technological and resource strengths to jointly develop a sustainable green fuel supply chain. This initiative aims to advance the shipping industry’s energy structure transformation, foster its eco-friendly growth, and contribute to the realization of a globally interconnected green, low-carbon, and sustainable shipping ecosystem.
As outlined in the memorandum, both companies will collaborate on developing technologies to lower emissions and build a green fuel supply chain. This includes the potential for Fortescue to use COSCO SHIPPING vessels or vessels owned by the two parties, powered by green ammonia, to ship iron ore and other mineral products with the aim of reducing China-Australia Iron Ore Green Shipping Corridor’s carbon emissions.
