Three leading Japanese companies, NYK Line, NYK Bulk & Projects Carriers (NBP) and Tsuneishi Shipbuilding Co., Ltd. are planning to build a ship powered by wood pellets under an MOU signed with U.K. based Drax Group. Drax produces the wood pellets , which are categorized as “biomass,” in both the southern U.S. and Canada. The company has a longstanding relationship with NBP which transports its pellets to Japan.
According to Drax the biomass wood pellets produce 80% less CO2 emissions when...