Fortescue and COSCO Shipping to build green fuel supply chain

Global mining company Fortescue, and marine transport company COSCO Shipping, have signed a non-binding memorandum of understanding to work together to decarbonize shipping.

Both companies will collaborate on developing technologies to lower emissions and build a green fuel supply chain. This includes exploring the construction and deployment of COSCO Shipping vessels, or co-owned vessels, powered by green ammonia, to ship iron ore and other mineral products with the aim of reducing Australia-China Iron Ore Green Shipping Corridor’s carbon emissions. The signing ceremony held in Shanghai was attended by Fortescue Metals CEO Dino Otranto, and executive vice president of COSCO Shipping, Lin Ji.