HMM and LOTTE Fine Chemical have signed a Memorandum of Understanding (MoU) for the marine transportation of ammonia. The agreement also includes the bunkering of ammonia and methanol fuel.
According to the agreement, HMM will transport ammonia fuel secured by LOTTE Fine Chemical and will be in charge of overall vessel operation during transit.
Meanwhile, LOTTE Fine Chemical, which owns Korea’s largest ammonia storage facility, intends to supply ammonia and methanol fuel to the vessels of the South Korean ocean carrier.
“We are generating enterprise-wide efforts to accelerate our environmental initiatives for a carbon-free future. We will continue to explore sustainable and clean energies and find a way to go green,” stated an HMM official.
According to the ‘Net Zero by 2050’ scenario reported by the International Energy Agency (IEA), ammonia attracts attention as one of the next-generation energy sources and is expected to account for around 45% of the demand for marine fuels in 2050.
