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Viridis Bulk Carriers signs MOU with Stema Shipping

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Ammonia-powered Viridis Bulk Carriers has signed an MOU with a large client, Stema Shipping, to join the Flexbulk – NH3 power consortium project.

Viridis Bulk Carriers signs MOU with Stema Shipping

Stema joins seven other cargo owners Elkem, Vestkorn, Yara, BioMar, Franzefoss Minerals, Viken AT Market, and Saltimport in the Flexbulk – NH3 power project.

The eight charterers represent a significant cargo volume in the North European short sea bulk market. The underlying cargo volume from these eight charterers provides an excellent opportunity to optimise and increase productivity in the logistics chain. The project has as a clear goal to reduce the cost impact of utilising carbon free ammonia fuel, which may initially be more expensive than fuels used today. Realisation of the project will have a significant impact on local pollutants and global CO2 emissions from shipping, in addition to reducing value chain emissions for food, fish feed, metals, fertilizer, construction, and other industries which transport large bulk and special project cargo volumes.

Jens Madsen, Head of Chartering at Stema Shipping, comments:

“Stema Shipping A/S is happy to announce that we have decided to join the FlexBulk project – NH3 Power. With this opportunity we get a chance together with the project partners to be part of a very ambitious project to launch a fleet of zero emission short sea bulk carriers.

“The FlexBulk project is very interesting as it takes the full value chain into consideration from bunkering stations, full logistic setup, and a fleet built for the future. The programme shows to be a great fit for Mibau Stema Group due to the trading area and our logistic terminal setup within same. Furthermore, the project aim to reduce CO2 emissions in logistics, would be an important step towards Mibau Stema Group’s sustainability targets.”

Espen Nordstrøm, Viridis Bulk Carriers, said:

“We are very pleased to welcome Stema Shipping to our Flex-Bulk Project. Stema is a significant player in the European short-sea market, and offers cargo volumes that fits perfectly together with the other seven charterers in the project. As the development of our new fleet is moving into the next phase, we are happy to see that more cargo owners are getting aware of the challenges laying ahead.

“Replacing the aging short sea tonnage, and decarbonisation of the supply chain will be decisive factors for the industry in the years to come, and Viridis Bulk Carriers will provide both.”

Read the article online at: https://www.drybulkmagazine.com/dry-bulk/16112022/viridis-bulk-carriers-signs-mou-with-stema-shipping/

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