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Brazilian miner Vale and Shandong Shipping Corporation have concluded a charter agreement for new Guaibamax grade vessels, powered by ethanol.
Vale and Shandong Shipping signed a 25-year charter for ethanol-powered Guaibamax vessels.
KEY POINTS
- This is the first time ethanol will be used as the primary fuel on transoceanic ships.
- The new vessels can reduce carbon emissions by about 90% compared to heavy fuel oil.
- The ships are designed for multi-fuel use, including methanol, heavy oil, and future conversion to LNG or ammonia.
- Vale is also testing ethanol as a fuel in trucks and locomotives beyond maritime transport.
COMPANIES
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