HMM and Panasia Jointly Research Carbon Capture Systems for Ships

Agreement on Ship Demonstration and Mutual Provision of Technology, Know-how, and Information Between Both Companies

[Asia Economy Reporter Kiho Sung] HMM announced on the 15th that it has signed a Memorandum of Understanding (MOU) with Panasia for joint research on a carbon capture system for ships.

The carbon capture system for ships is a greenhouse gas response technology that captures carbon dioxide in exhaust gases generated during ship operation to prevent its emission.

At the 'Research and Development MOU Ceremony for Ship Carbon Capture System' held on the 14th at the Yeouido headquarters, key officials including Kyubong Kim, HMM Maritime General Manager, and Mingul Lee, Panasia Executive Vice President, attended.

Through this cooperation, HMM will provide ships for demonstration, and Panasia will review the economic feasibility and viability through ship demonstration. Additionally, both companies agreed to jointly research the treatment methods for the captured carbon.

Carbon capture technology on ships is currently being researched by various organizations including shipbuilders and eco-friendly equipment companies.

Panasia, a company specializing in eco-friendly equipment, has been conducting technology performance tests through carbon capture demonstration facilities on a test barge it established in Jinhae, Gyeongnam since 2020.

The International Maritime Organization (IMO) is gradually strengthening emission regulations by 2050 to reduce greenhouse gases from ships. Carbon dioxide is a representative greenhouse gas emitted from ships, and if emission regulations based on the energy efficiency design index are not met, there will be many restrictions on ship operation.

Furthermore, the EU announced the Fit for 55 package last year and is promoting legislation on greenhouse gas emission regulations in the shipping sector, making it necessary for the shipping industry to establish multifaceted strategies to reduce greenhouse gases.

Kyubong Kim, HMM Maritime General Manager, said, “By jointly participating in the research and development of carbon capture systems, which are mentioned as an alternative means for carbon neutrality, we expect to contribute to the development of domestic technology by moving away from dependence on overseas technology, and at the same time, it will greatly help us achieve our company's carbon neutrality goals.”

This content was produced with the assistance of AI translation services.