Daewoo Shipbuilding Partners with Korea National Oil Corporation for 'Decarbonization' Technology Cooperation on Hydrogen, Ammonia, and Carbon Dioxide Carriers

"The Era of Practical Decarbonized Ships Will Be Accelerated"

Lee Seong-geun, President of Daewoo Shipbuilding & Marine Engineering (right), and Kim Dong-seop, President of Korea National Oil Corporation, pose for a commemorative photo after signing the "Low-Carbon Hydrogen, Ammonia, and Carbon Dioxide Carrier Business Agreement" on the 17th at the Daewoo Shipbuilding Seoul office. (Photo by Daewoo Shipbuilding)

[Asia Economy Reporter Moon Chaeseok] Daewoo Shipbuilding & Marine Engineering (DSME) is partnering with Korea National Oil Corporation (KNOC) to develop technology for hydrogen, ammonia, and carbon dioxide carriers. The goal is to accelerate the commercialization timeline of vessels essential for 'decarbonization.'

On the 18th, DSME announced that it signed a Memorandum of Understanding (MOU) with KNOC for the development of low-carbon hydrogen, ammonia, and carbon dioxide carriers. The signing ceremony was attended by about 10 officials, including the CEOs of both companies.

Through this agreement, the two companies will form a joint working-level council to collaboratively conduct research on core decarbonization technologies using hydrogen and ammonia, as well as develop related vessels.

DSME will lead the development of low-carbon ammonia carriers powered by ammonia fuel and eco-friendly liquefied carbon dioxide carriers. The company plans to concentrate its extensive shipbuilding experience and technological capabilities. It also intends to establish the technological foundation necessary for vessel commercialization, including conducting economic feasibility analyses required for actual operation. This approach reflects the increasingly fierce competition among shipbuilders who recognize the need for low-carbon vessel propulsion technologies using alternative fuels such as ammonia and hydrogen alongside liquefied natural gas (LNG) propulsion technology in achieving 'carbon neutrality.'

KNOC is promoting the construction of ammonia storage and distribution infrastructure, leveraging its experience in building and operating petroleum stockpiles and hub terminals. KNOC, which recently presented a new vision as a 'carbon-neutral leading company,' signed a joint research and pilot introduction contract for low-carbon ammonia with Abu Dhabi National Oil Company (ADNOC) in January. Utilizing its petroleum development network, KNOC is taking the lead in securing overseas supply chains for 'decarbonization.'

Lee Sung-geun, CEO of DSME, stated, "Developing decarbonization technologies for carbon neutrality by 2050 is now an essential task for the shipbuilding industry. Our company will devote itself to developing propulsion technologies for alternative ship fuels such as hydrogen and ammonia to advance the era of practical decarbonized vessels and lead the global shipbuilding market."

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