Argus Media Limited

11/12/2021 | News release | Distributed by Public on 11/11/2021 23:35

Australia’s Fortescue steps up marine renewables

Fortescue Future Industries (FFI), the renewable energy arm of Australia's iron ore producer Fortescue Metals, is working on converting the MMA Leveque vessel to run almost 100pc on green ammonia over the next 12 months. This is part of its broader plan to convert all its trucks, trains and vessels to operate on fuels produced from renewable sources.

FFI is converting the MMA Leveque together with Australian shipping and shipping services firm MMA Offshore over the next 12 months so it can run almost totally on green ammonia, which is produced from renewable energy without any emissions, FFI chairman Andrew Forrest said. Fortescue has said it is on track to reach carbon neutrality by 2030.

Shipping accounts for around 3pc of global greenhouse gas (GHG) emissions. The industry has been a focus of discussions at the UN's COP 26 climate conference in the UK's Glasgow where on 1 November a number of countries, including the US, UK, Germany and France signed a declaration to reach net zero GHG emissions by 2050.

The zero emissions shipping mission aims to demonstrate vessel operating on commercially viable zero emissions fuels by 2030. It supported moves to request for the International Maritime Organisation (IMO) to set a target for zero emissions shipping by 2050, the declaration stated.

The IMO's current target is for a 50pc reduction in overall GHG emissions by 2050 compared with 2008 levels and for a 70pc cut in CO2 emissions over the same timeframe.

A group of 19 countries at Cop 26 also committed to setting up a series of "green shipping corridors" between their ports, where vessels will be encouraged to run on zero emissions fuels.

By Kevin Morrison