A consortium consisting of maritime, mining, and energy companies, including Tata Steel, Anglo American, CMB, VUKA Marine, Freeport Saldanha, and ENGIE, is collaborating to develop a green corridor for the zero-emission shipping of iron ore between Europe and South Africa.
This maritime green corridor initiative is a first of its kind from Africa and represents a significant step toward decarbonizing the shipping sector. The group will investigate bunkering and offtake arrangements, green fuel supplies, and alternative financial and business models.
Anglo American, a global mining company and one of the consortium members, has deployed ten LNG-powered vessels as part of its strategy to reach carbon neutrality for its controlled ocean freight by 2040. This initiative also aligns with the company’s wider industry decarbonization goals.
The consortium’s effort builds on the “Shipping’s Energy Transition: Strategic Opportunities in South Africa” report prepared by the Getting to Zero Coalition and P4G. According to the report, South Africa has the highest volume of maritime traffic in Africa, with one of the best-connected port systems that support the trade of valuable commodities.
The development of a green corridor could contribute to South Africa’s decarbonization goals, driving the region’s sustainable growth and business opportunities while promoting synergies for other sectors of the economy.
The Global Maritime Forum’s CEO, Johannah Christensen, hailed the initiative as a signal of industry action as the sector heads into negotiations at MEPC 80 in July.
Source: Offshore Energy
Image Source: AngloAmerican