According to the agreement, the companies will team up on research and pilot projects to decarbonise bulk cargo shipping.
The partnership will develop and deploy new marine decarbonisation solutions, which can be used for EGA’s bulk cargo shipping routes in the eastern Atlantic Ocean, Mediterranean Sea and Indian Ocean.
These technologies will include kite systems, alternative fuels and CO₂ capture technologies.
“K” Line will focus on research related to decarbonisation opportunities, while EGA will conduct pilot projects on the companies’ shared shipping routes.
As part of long-term contracts of affreightment, “K” Line annually ships around five million tonnes of EGA’s bauxite from the Republic of Guinea to the UAE as well as nearly 1.5 million tonnes of alumina a year from Australia to the UAE.
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EGA CEO Abdulnasser Bin Kalban said: “Economy-wide decarbonisation will require cooperation between industries, and we are pleased to work with “K” Line Group on this important global challenge.
“Our long-term relationship with “K” Line Group provides an ideal platform to develop and test ways to reduce greenhouse gas emissions from shipping.
“For EGA, our goal is to reach net zero greenhouse gas emissions not just from our own operations but also from activities in our supply chain. Improving the fuel efficiency of shipping could also reduce our shipping costs.”
In May, “K” Line took delivery of a new W-Max class liquefied natural gas (LNG) carrier for Petronas LNG.