South Korean flagship carrier HMM signed a Memorandum of Understanding (MoU) with five compatriot companies to develop a green ammonia supply line from manufacturing through to maritime use.
Signatories from LOTTE Fine Chemical, Lotte Global Logistics, POSCO, Korean Register (KR), and Korea Shipbuilding & Offshore Engineering (KSOE) put their names to the MoU to find a workable solution to produce green ammonia, store the fuel, transport it and bunker the fuel as a zero-carbon alternative to fossil fuels.
“More specifically, KSOE plans to develop an ammonia-powered ship, which will be certified by the Korean Register. HMM and Lotte Global Logistics will take charge of testing and operating the vessel. Once POSCO produces green ammonia overseas, LOTTE Fine Chemical will transport the fuel and perform bunkering operations,” said a joint company statement.
HMM set a target of reaching carbon neutrality for its whole fleet by 2050 and to achieve that target, set in 2019, the carrier has sought to develop multiple sustainable energy sources, including biofuels, LNG, hydrogen, and green ammonia.
An HMM spokesperson said, “We simply can’t decide and select one single carbon-neutral fuel at this moment, considering commercial viability, availability, and scalability. HMM will spearhead an effort to promote the use of a range of alternative fuels in co-operation with top-rated industrial players with experience and expertise.”
