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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Anglo American plc    AAL   GB00B1XZS820

ANGLO AMERICAN PLC

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Anglo American : adds low emission fleet to global shipping operations

11/10/2020 | 05:11am EST
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10 November, 2020

Anglo American announces the award of a ten-year charter contract for four LNG fuelled capesize+ vessels, introducing LNG into its chartered fleet for the first time. The new build LNG vessels offer significant environmental benefits, including a c.35% cut in CO2 emissions compared to standard marine fuel, while also using new technology to eliminate the release of unburnt methane, or so-called 'methane slip'.

Peter Whitcutt, CEO of Anglo American's Marketing business, said: 'Anglo American is committed to reducing emissions from its ocean freight operations and to playing a leading role in shaping a more sustainable future for the maritime industry. Today's agreement is aligned with Anglo American's goal to be carbon neutral across our operations by 2040 - as we work to reduce emissions not only at our production sites but also along our entire value chain - and builds on our track record of implementing concrete actions to deliver on the targets set by the International Maritime Organisation's 2018 strategy.

'LNG is a readily available, commercially viable, lower emission solution which, combined with innovative technology designed to eliminate unburnt methane, will allow these new builds to provide a much improved environmental and more efficient performance.'

LNG marine fuel offers significant environmental advantages over heavy fuel oil - the most widely used fuel by vessels operating along sea trade routes - and is abundantly available through an established global network of existing infrastructure. Compared to conventional fuel options, the use of LNG eliminates sulphur oxides, considerably reduces nitrogen oxides and particulate matter from vessel exhausts and cuts CO2 emissions by approximately 35%.

Designed to be larger than, but remain as flexible as, a conventional capesize vessel, the new builds will optimise cargo transport by increasing load and improving overall cost effectiveness. U-Ming Marine Transport will own the newly designed 190,000-deadweight tonne LNG fuelled bulk carriers. The fleet will be built by Shanghai Waigaoqiao Shipbuilding in China and is expected to be delivered in 2023.

The fleet is expected to carry up to five million tonnes of product per annum, transporting iron ore from Anglo American's operations in Brazil and South Africa to the company's global customer base. The new builds will be flagged and registered in Singapore, which will also serve as prime bunkering port, thereby avoiding deviations from trading routes for refuelling purposes.

Shaping a more sustainable future for the maritime industry

Earlier in October 2020, Anglo American was among the founding signatories of the Sea Cargo Charter - created by some of the world's largest energy, agriculture, mining, and commodity trading companies, with the aim of establishing a standard methodology and reporting framework to allow charterers to measure and align their emissions from ocean transportation activities.

In September 2019, Anglo American joined the Getting to Zero Coalition, an alliance committed to getting commercially viable deep sea zero emission vessels powered by zero emission fuels into operation by 2030.

Anglo American is also a partner of the Global Maritime Forum.

For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
Email: james.wyatt-tilby@angloamerican.com Email: paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Robert Greenberg
Email: marcelo.esquivel@angloamerican.com Email: robert.greenberg@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124
Katie Ryall Emma Waterworth
Email: katie.ryall@angloamerican.com Email: emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8935 Tel: +44 (0)20 7968 8574
South Africa
Sibusiso Tshabalala
Email: sibusiso.tshabalala@angloamerican.com
Tel: +27 (0)11 638 2175
Nomonde Ndwalaza
Email: nomonde.ndwalaza@angloamerican.com
Tel: +27 (0)11 638 0228

Notes to editors:

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, development projects and undeveloped resources, provides many of the metals and minerals that enable a cleaner, greener, more sustainable world and that meet the fast growing consumer-driven demands of developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to mine, process, move and market our products to our customers - and to discover new resources - safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, the steelmaking ingredients of iron ore and metallurgical coal, and nickel - with crop nutrients in development and thermal coal operations planned for divestment - we are committed to being carbon neutral across our operations by 2040. We work together with our business partners and diverse stakeholders to unlock sustainable value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people's lives.

www.angloamerican.com

Disclaimer

Anglo American plc published this content on 10 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2020 10:10:01 UTC


© Publicnow 2020
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