HMM and PANASIA partner on onboard carbon capture system

South Korean container line HMM has signed a Memorandum of Understanding (MoU) with global eco-friendly and energy system company PANASIA to collaborate on onboard carbon capture system for vessel application.

HMM said in a statement that onboard carbon capture system is an advanced technology to capture CO2 from greenhouse gas emissions generated during vessel operation, ensuring it is not emitted into the atmosphere.

“This solution has the potential to play a significant role in reducing CO2 emissions,” pointed out HMM.

Under the terms of MoU, the two partners will perform a feasibility study, economic analysis and risk assessment. In addition, the handling process of captured CO2 is one of the vital areas of study. Based on research findings, the ocean carrer is expected to install the carbon capture system and perform an operational test on its vessels.

Kim Gyou-bong, HMM chief maritime officer, commented, “Carbon capture technologies are one of the alternatives in support of the net-zero ambitions of the global community. We will continue to participate in collaborative partnerships to develop onboard carbon capture solutions on our pathway to carbon neutrality.”

HMM unveiled its target of reaching net-zero carbon emissions across its entire fleet by 2050 and explores various sustainable energy sources to achieve the target, including biofuels, LNG, hydrogen, and green ammonia.