SEOUL — HMM Co., South Korea's leading container shipper, has entered into a memorandum of understanding with Shanghai International Port Group (SIPG) to collaborate on the supply of eco-friendly fuel to the Port of Shanghai. This agreement is part of a broader initiative within the shipping industry to transition to greener energy sources, aiming for carbon neutrality by 2050.
According to Yonhap News Agency, HMM will work with SIPG to facilitate the supply of clean maritime fuels, including methanol and liquefied natural gas (LNG), to one of the world's busiest ports. This collaboration highlights the industry's focus on reducing carbon emissions through the adoption of methanol and LNG, with ongoing efforts to integrate ammonia and hydrogen as alternative ship fuels. HMM's strategy includes establishing a robust supply chain for these clean fuels, building on existing arrangements with the ports of Busan in South Korea and Singapore. Last February, HMM announced the order of nine container ships with a capacity of 9,000 TEUs each, primarily powered by methanol, and plans to deploy two 7,700-TEU vessels running on LNG. SIPG, managing China's largest port, is expanding its LNG supply capabilities and has begun to prepare for methanol fuel provisioning.