HMM has signed a memorandum of understanding (MoU) with Lotte Fine Chemical, Lotte Global Logistics, POSCO, Korean Register (KR), and Korea Shipbuilding & Offshore Engineering (KSOE) with the aim of developing the green ammonia supply chain.
Under the terms of the MoU, each member pledged joint efforts to form the end-to-end supply chain for ammonia bunkering, including production, storage, and transportation of green ammonia. More specifically, KSOE plans to develop an ammonia-poweredship, which will be certified by KR. HMM and Lotte Global Logistics will test and operate the vessel. Once POSCO produces green ammonia overseas, Lotte Fine Chemical will transport the fuel and perform a bunkering operation.
In 2019, HMM unveiled its target of reaching carbon neutrality by 2050 for its entire fleet. As part of achieving this target, HMM has been seeking multiple sustainable energy sources, including biofuels, LNG, hydrogen, and green ammonia.
An HMM official said: “We simply cannot 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 cooperation with top-rated industrial players with experience and expertise.”