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...
The Drax Group, whose U.K. power stations generate electricity using wood pellets produced from sustainable low-value commercial forestry residues, is also a major supplier of those pellets worldwide. Now it is looking for a greener way to get them from North America, where its pellets business is based, to power stations in Japan.
It is partnering with Japan’s MOL Drybulk to develop pellet carriers fitted with MOL’s Wind Challenger hard sail technology, with first ship expected as soon as 2025.
D...