- Star Bulk Carriers Corp (NASDAQ:SBLK) has signed a joint letter of intent to establish a consortium to assess the development of an iron ore Green Corridor between Australia and East Asia.
- The consortium is led by the Global Maritime Forum, and its partners include BHP Group Ltd (NYSE:BHP), Rio Tinto plc (NYSE:RIO), and Oldendorff Carriers GmbH & Co. KG.
- Green Corridors are shipping routes where the economics, infrastructure, and logistics of zero- or near-zero-emission shipping are more feasible.
- The consortium members seek to jointly examine green ammonia supply, bunkering, and first-mover support mechanisms required to participate in a sustainable Australia-East Asia iron ore Green Corridor.
- The partners intend to establish a framework as a preliminary step toward the real-world implementation of a green iron ore shipping value chain.
- Price Action: SBLK shares are trading lower by 3.46% at $26.51 on the last check Wednesday.
