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Viridis Signs another Charterer – Steam Shipping AS

The MoU is signed with a large client, Stema Shipping, and they’re joining the Flexbulk – NH3 power consortium project with 7 other cargo owners. These cargo owners are Elkem, Vestkorn, Yara, BioMar, Franzefoss Minerals, Viken AT Market, and Saltimport.

Stema Shipping, who is a partner of Flexibulk, has decided to jump on board with the zero-emission project called NH3 Power. They are excited about the potential for it as well as how it will help them achieve their sustainability goals. They’re also very curious about how this fleet of ships can work harmoniously with their current fleet.

Increasing cargo volume in the Flexbulk Project

The 8 charterers for the North European short sea bulk market represent a significant cargo volume in this niche trade. With their underlying cargo volume available, it’s easy to maximize and increase productivity in the logistics chain. By reducing the cost impact of carbon-free ammonia fuel, which may initially be more expensive than fuels being used today, they can reduce CO2 emissions from transports related to food-, metal-, and other industries. They will also benefit local pollutants and global CO2 emissions by carrying large volumes of various types of transportation project cargo.

The best part about working with Stema Shipping is that they ship huge volumes of cargo in Europe. That makes them perfect for our project, as the challenge ahead will be to provide diversified options. As we steadily transition into the next phase of development, our partners are seeing the challenges ahead and are excited to work with us to address them—knowing that we will provide a compelling alternative solution.

One of the most important benefits of using ammonia is that it provides trading flexibility

Because they’re getting so much work done in such a short amount of time, Viridis Bulk Carriers anticipate that their vessels will support charterers’ cargo needs, sailing over 3,000 nautical miles at sea with the same range as current bulk carriers. Plus, they’ll have a comparable crew size and safety level when compared to other ships. They expect to take delivery of vessels by 2025.

As the maritime industry continues to move towards zero emissions and seeks a way to fund future investments, it’s essential that the green vessels of tomorrow can share similar operational capacities, like cargo and sail range, so the industry is able to reap the benefits. The Viridis vessels will be able to cross the North European region without needing to develop a full-scale bunker infrastructure from day one. Ammonia has by far the best energy density of my zero carbon alternatives when it comes to supporting this. This is how we’ll get decarbonization moving at speed, says Karl Arthur Bræin, of Viridis Bulk Carriers.

Increasingly, the European Union (EU) and International Maritime Organization (IMO) are mandating that ship owners reduce their GHG emissions. Fortunately for both parties, Viridis has just increased its emission reduction targets to offer flexibility due to its impressive range of sailing. Viridis Bulk Carriers is also a member of the “Ammonia Fuel Bunkering Network”, which will be building a bunkering network in Scandinavia this year in collaboration with Yara. The first terminal was pre-ordered back in May and will be delivered by Yara itself next year. This ensures delivery security for ammonia fuel to the Viridis Bulk Carrier’s fleet of vessels.

If you’re taking a look at cargo ownership, whether it’s because of your eco-friendly practices or your green beliefs, then we offer great incentives to grow your business.

The Flex Bulk – NH3 power project is growing at a rapid rate, with 8 interested charterers so far. Viridis Bulk Carrier will provide these clients with cutting edge, carbon-free solutions for their logistical requirements. They invite all environmentally-minded cargo owners to collaborate with them and we’re happy to open our doors to everyone who shows interest in our sustainable model. 

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