BHP Group Limited (ASX:BHP), alongwith Rio Tinto Limited (ASX:RIO), Oldendorff Carriers, and Star Bulk Carriers Corp (a consortium led by the Global Maritime Forum), has signed a letter of intent (LOI) to examine the construction of an iron ore Green Corridor between Australia and East Asia.
Meanwhile, shares of BHP were trading 1.85% lower at AU$50.99 each on ASX at the time of writing this article while Rio Tinto’s shares were trading at AU$117.92 per share, down 1.93%.
In a press release on 6 April 2022, BHP said that governments and industry decision-makers are increasingly looking to enable and simplify the task of decarbonising the maritime sector by establishing Green Corridors: specific shipping routes where the economics, infrastructure, and logistics of zero- or near-zero emission shipping are more feasible and rapid deployment can be supported by targeted policy and industry.