HMM, Eco-Friendly Bio Ship Fuel Business MOU

HMM announced on the 26th that it has signed a business agreement (MOU) with GS Caltex for an eco-friendly bio marine fuel project to reduce greenhouse gas emissions.

The signing ceremony held at GS Tower in Gangnam-gu, Seoul, was attended by about 30 people, including Jin-ki Park, Executive Vice President of HMM, and Seung-hoon Lee, Head of GS Caltex S&T Division.

Bio marine fuel is produced by mixing biodiesel made from waste raw materials, which emits over 80% less greenhouse gases compared to fossil fuels, and marine fuel (Bunker C oil) at a ratio of 3 to 7. It complies with the International Maritime Organization (IMO)'s greenhouse gas reduction plan without modifying existing ship engines.

HMM plans to conduct maritime demonstrations targeting three 24,000 TEU container ships starting in the second half of this year. The secured data will be provided to government agencies to contribute to the government-led 'Development Project for Marine Biofuels.' Furthermore, by receiving a stable supply of bio marine fuel from GS Caltex, HMM will be able to further strengthen its eco-friendly competitiveness.

Prior to this, in 2021, HMM conducted ship demonstrations of the eco-friendly alternative fuel 'bio heavy oil' on a 13,000 TEU container ship from Busan to the Panama Canal across the Pacific section.

The international community's efforts to reduce greenhouse gases are intensifying. The IMO mandates that ship greenhouse gas emissions be reduced by at least 50% by 2050 compared to 2008 levels.

Jin-ki Park, Executive Vice President of HMM, said, "Based on this business agreement, we will proactively respond to greenhouse gas reduction and climate change," adding, "We will become an eco-friendly shipping company through continuous research and demonstration."

Seung-hoon Lee, Head of GS Caltex S&T Division, explained, "With this business agreement as a turning point, we will accelerate the eco-friendly bio marine fuel project and create various cooperation opportunities in the field of carbon emission reduction in the shipping industry with HMM."

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