June 5 , 2015 - Pinnacle Renewable Energy Inc. is proud to announce the first full loading of wood pellets into a Panamax class vessel. The first full shipment was loaded at the company's Westview Terminal in Prince Rupert, B.C. on June 2, 2015. It will be the largest load of wood pellets ever shipped anywhere in the history of the industry.
June 5, 2015 By Pinnacle Renewable Energy Inc.
Panamax vessels are purpose-built to utilize the maximum capacity of the Panama Canal. The vessel will carry almost 60,000 tons of wood pellets to Drax Power in the UK, where they will be burned as a greener alternative to coal. Wood pellets are a low carbon, renewable fuel, highly sought after by electrical generating companies in Europe and Asia.
The use of Panamax class vessels will allow Pinnacle to fully optimize its marine logistics between B.C. and ports in Europe, further establishing the company as one of the lowest-risk wood pellet suppliers in the world. The larger load will also allow receivers to improve discharge efficiency on arrival.
“Pinnacle is excited about its leadership in the use of Panamax’s for wood pellets,” said Vaughan Bassett, Pinnacle’s senior vice-president of sales and logistics. “They are presently an under-utilized class of vessel, so this additional cargo option will suit ship owners, shippers and receivers alike.”
The M/V Popi S was chartered by Grieg Star Shipping in Norway and has a DWT of 80,400 tons. She will take 34 days to sail between Prince Rupert and Immingham, U.K., arriving in early July.
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