Australia is advancing shipping decarbonization through green corridor initiatives linking the Pilbara to East Asia (see Figure 3). These corridors are effectively stable trade routes with green fuel supply chains. A task force led by Pilbara Ports, BHP , Rio Tinto and the Global Maritime Forum is designing a Clean Fuel Bunkering Hub with ammonia bunkering hubs at Dampier and Port Hedland. Transitioning the bulk carriers that visit Pilbara Ports to lower- carbon ammonia (not green ammonia) could reduce emissions by up to 94%, cutting them to less than 560,000 tonnes per year.74 Such public-private initiatives from the government and leading mining companies are important to send both demand and supply signals to shipping companies to encourage them to commit to low-carbon vessels. In September 2024, Dampier Port conducted the world’s first ship-to-ship transfer of ammonia, involving ~2,700 tonnes of ammonia.75 This was significant step forwards, given the major safety concerns around handling this toxic and corrosive fuel. Apart from developing a commercially viable product – it is therefore also critical to invest in safe bunkering infrastructure, regulation and workforce training – a point that was emphasized by participants during the workshop in Adelaide. One major shipping line attending the workshop also voiced concern around safety issues with shipping freshly reduced iron – whether via the DRI or HBI route. The iron is highly reactive – it can re-oxidize itself, consuming oxygen and generating heat which in turn can start fires or create dangerous hypoxic environments for crew. The re-oxidized iron can also react with (sea) water to create hydrogen gas, bringing a risk of explosion in confined holds. Consequently, the IMO’s rules treat DRI/HBI as hazardous bulk cargo with tight carriage rules.76 Solving this issue requires further testing and documentation to redefine the product in IMO’s classification.Green shipping corridors Iron ore exports and green shipping corridors from Western Australia to East Asia FIGURE 3 Sour ce: Government of Western Australia (2023 data).77 Singapor eChinaJapan 50% of Japan’ s iron or e imports Japan, South Kor ea and T aiwan, China: 115 million tonnes (13% of W A exports) Wester n Australia (WA) - global ir on ore exports: 882 million tonnesChinese mainland: 747 million tonnes (85% of W A exports)South Kor ea 69% of South Korea’s iron or e importsChina ~65% of China’ s iron or e imports Australia Unlocking Asia-Pacific as a First Mover: Australia’s Green Iron Opportunity 25

Unlocking Asia-Pacific as a First Mover 2025