HMM inks deal to bunker methanol and LNG at Shanghai Port

South Korea’s flagship carrier HMM has signed a memorandum of understanding (MoU) with Shanghai International Port Group (SIPG) to cooperate on clean marine fuel.

This agreement between the two will focus on bunkering methanol and LNG at Shanghai Port along with supporting carbon reduction goals, promoting global shipping new energy cooperation, and helping shipping energy transformation and sustainable development.

This is not the first bunkering of a green fuel the port will be doing as SIPG has provided LNG bunkering services for shipping companies since 2022. Currently, all preparations for green methanol bunkering in Shanghai Port have been completed.

HMM has already committed to achieving a net zero emissions target for its entire business by 2050. The firm stated that it was critical to establish port bunkering infrastructure for clean marine fuel to accomplish this. Apart from Shanghai Port, the Korean firm previously developed a sustainable eco-supply chain network in Singapore and Busan.

HMM also signed new building contracts for nine 9,000 teu vessels powered by methanol and plans to operate two 7,700 teu LNG-powered vessels by the end of this year.