News

2021 May 26 13:01

HMM and five Korean partners launch consortium to explore green ammonia supply chain

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) to seek feasible solutions on the green ammonia supply chain, according to the company's release.

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, Korea Shipbuilding & Offshore Engineering (KSOE) plans to develop an ammonia-powered ship, which will be certified by Korean Register (KR). HMM and Lotte Global Logistics take charge of testing and operating the vessel.

Once POSCO produces green ammonia overseas, LOTTE Fine Chemical will transport the fuel and perform a bunkering operation.   As an environmental initiative, in 2019, HMM unveiled its target of reaching carbon neutrality by 2050 for its entire fleet.

As part of achieving the target, HMM has been seeking multiple sustainable energy sources, including biofuels, LNG, hydrogen, and green ammonia.