A consortium comprising global mining firm Anglo American; steel producer Tata Steel; shipping companies CMB and VUKA Marine; Freeport Saldanha; and multinational utility ENGIE is exploring the idea of developing a maritime green corridor.
The corridor, entitled ‘the South Africa-European Union green corridor’, would enable the country to export iron-ore via zero-emissions shipping solutions.
The consortium, announced by the Global Maritime Forum (GMF), will explore full-scope concepts for the corridor, including bunkering and offtake arrangements, available green fuel supplies and business model alternatives, with the aim of creating a low-emission South Africa-Europe iron ore trade route that utilizes renewable energy.
“We hope this project will lay bare a viable shipping decarbonization pathway towards real-world implementation, generating sustainable growth and business opportunities for South Africa and the region, with synergies for other sectors of the economy,” stated Johannah Christensen, CEO of the GMF.
The project is seen as a critical step towards decarbonizing the shipping industry while consolidating South Africa’s position as a major exporter of iron ore and related products. “Cross-industry collaboration is the key to shaping a sustainable maritime industry. An important step towards wider industry decarbonization, this initiative also aligns with Anglo American’s ambition to reach carbon neutrality for our controlled ocean freight by 2040,” added Peter Whitcutt, CEO of Anglo American’s Marketing business.