Star Bulk Inks Joint Letter Of Intent To Develop Iron Ore Green Corridor - Star Bulk Carriers (NASDAQ:SBLK)

Star Bulk Carriers Corp 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 BHP, Rio Tinto plc 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.