Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 118

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 118
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Mt of bulk products annually with a fleet of 230 chartered vessels and 17 owned ships, we recognise our vital role in decarbonising shipping and partnering with industry stakeholders to accelerate this journey. To reduce emissions from shipping, we focus on: Energy efficiency: While in mid-2024 we achieved a 40% reduction in emissions intensity against the IMO’s intensity target baseline year 2008, we ended 2024 with a 39% reduction (up from 37% at end 2023), primarily by: – Incorporating larger vessels such as Newcastlemax (210k deadweight tonnage (DWT), which have ~10% lower emissions intensity than standard Capesize (170-180k DWT). – Technical modifications to the hull, propeller, and engine. As we improve the energy efficiency of our own vessels, we are also prioritising chartering vessels with design improvements, including those with energy-saving devices installed. – Speed and route optimisation: We deploy sophisticated weather routing software and seek to continually optimise scheduling and reduce unneeded time waiting in port. We have completed a recent dry dock program and energy-saving device installations on all 17 owned vessels. In 2025, we plan to trial further energy efficiency technologies such as shaft generators and air lubrication systems, while exploring opportunities to apply these to our chartered fleet. Transitional fuels: We continue to explore opportunities for biofuels and liquefied natural gas (LNG). In 2024, we introduced 4 additional LNG Newcastlemax dual-fuelled vessels to our fleet (current total of 9 in the fleet), capable of delivering up to 15% to 20% CO 2 e emissions reductions compared to traditional fuel oil. We continue to work with our partners to progress commercially viable biofuel bunkering solutions as well as recycled fuel deployment. End-state fuels: To achieve our aim of net zero shipping by 2050, our Marine team is focusing on end-state fuels. Although there is no clear, single end-state fuel solution for the shipping industry, low-carbon methanol and low-carbon ammonia are considered the more promising options 4 . We progress the availability and business case for end-state fuels (including value-chain split of opportunity/risk) through industry collaboration such as our leadership in the West Australia – East Asia Iron Ore Green Corridor. Additionally, regulation is essential to facilitate the drive towards net zero shipping. In 2023, the IMO announced a heightened ambition, including guidance for net zero shipping “