South Korean carrier HMM is collaborating with five Korean partners to carry out a study, aiming to establish an end-to-end supply chain for ammonia bunkering.
To that end, HMM has signed a memorandum of understanding with LOTTE Fine Chemical, Lotte Global Logistics, POSCO, Korean Register (KR), and Korea Shipbuilding & Offshore Engineering (KSOE).
The partnership will see KSOE develop an ammonia-powered ship, certified by KR. HMM and Lotte Global Logistics will be in charge of testing and operating the vessel, POSCO for green ammonia production and LOTTE Fine Chemical for transport and bunkering.
HMM plans to reach carbon neutrality by 2050 for its entire fleet, through multiple sustainable energy sources, including biofuels, LNG, hydrogen, and green ammonia.
“We simply can’t decide and select one single carbon-neutral fuel at this moment, considering commercial viability, availability, and scalability. HMM will spearhead an effort to promote the use of a range of alternative fuels in cooperation with top-rated industrial players with experience and expertise,” an HMM official said.