Norden 3-year agreement with Vattenfall
SHIPPING: Norden has entered into a 3-year agreement with the Swedish energy group Vattenfall for the transportation of approx. 600,000 tonnes of wood chips from rubber trees in Liberia to power stations in Europe.
The agreement comprises a total of 24 cargoes of 25,000 tonnes each, with 4, 8 and 12 Handymax cargoes in 2011, 2012 and 2013, respectively.
Vattenfall’s import of wood chips is part of the group’s efforts to reduce CO2 emissions by replacing coal and gas by CO2 neutral fuel. Vattenfall aims to reduce the use of ’hard coal’ by 40% in the company’s power stations in Danmark, Germany, Poland and Holland before 2020.
“Our motivation for contracting with Norden has a number of facets. Aside from economics, our decision has also been driven by the facts, that Norden is known for their consummate professionalism and has a mindset that can cope with the fact that this is green field business and can contribute in a valuable manner towards creative solutions that enhance flexibility. Adding to this, Norden is a company of proven individuals with an enviable degree of solidity and company values that provide a high level of confidence when entering into a contract of longer duration,” says Clint Christensen, Coal Purchasing Agent at Vattenfall.
The partnership agreement, which is the first between Vattenfall and Norden, was established through a Danish broker.
Source: Norden / maritimedanmark.dk
