South Korea’s major ocean carrier HMM Co. announced that it signed a Shanghai Port Clean Marine Fuel memorandum of understanding (MOU) with China’s Shanghai International Port Group (SIPG).
SIPG, a global terminal operator based in the world’s largest port Shanghai Port, has been supplying liquefied natural gas (LNG) fuel to shipping companies worldwide since 2022 and is expanding facilities for methanol fuel supply in 2024.
Under the agreement, HMM plans to cooperate on supplying environmentally friendly ship fuels such as methanol and LNG at Shanghai Port in the future.
The global shipping industry is making various attempts in collaboration with stakeholders to achieve the goal of Carbon Neutrality by 2050, including the next-generation eco-friendly fuels. Methanol and LNG have been commercialized, with efforts underway to develop ammonia, hydrogen, and other fuels.
In February last year, HMM ordered nine 9,000-TEU eco-friendly container ships powered by methanol as the main fuel and plans to operate two 7,700-TEU LNG-powered vessels by the end of this year.
To achieve this, HMM has secured an environmentally friendly fuel supply network in China, following its existing networks in Busan and Singapore.
Tags: Eco-friendly, Fuel, HMM, SIPG
Recent Posts
DPIIT promotes green logistics industry
Petronet LNG reports record volumes
TotalEnergies buys stake in wind farm to produce green hydrogen
Ports of Indiana, Port of Antwerp-Bruges partner on green shipping
Bhutan moves towards green transition
GCMD completes biofuel supply chain trials with Hapag-Lloyd
Airbus partners with Avolon on hydrogen aviation
Nuclear power transition more safe option for decarbonisation than coal