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Norden scores 9-year wood pellet transportation contract with Pinnacle

Norden scores 9-year wood pellet transportation contract with Pinnacle
Danish owner Norden has signed a 9-year contract with Canada’s Pinnacle Renewable Energy for the transportation of wood pellets starting from 2018.

Norden will transport a total of 3.5 million tons of wood pellets, in supramax vessels, from Vancouver and Prince Rupert to Europe. Norden will make eight trips per year, with each trip expected to take around 65 days.

Michael Boetius, Vice President and head of industrial bulk at Norden, commented: ‘”The contract with Pinnacle provides us with an opportunity to achieve two things: First, the contract ensures that our vessels return with cargo from the Pacific to the Atlantic Ocean – a route where traditionally there is less cargo to transport. Secondly, the contract cements our already strong position in the biomass market, in which we have built up considerable experience and expertise.”

Earlier in the month Norden signed a 10-year deal with GNPower Mariveles Coal Plant in the Philippines for the transportation of 20-24 million tons of coal. The contract is the largest in the company’s history in terms of volume.

source: splash247

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