HD Hyundai Marine Solutions announced on Oct. 16 that it has signed a memorandum of understanding for life cycle assessment  calculation with HD Hyundai Samho Heavy Industries and global shipping company CMA-CGM. The signing ceremony was attended by Shin Hyun-dae, CEO of HD Hyundai Samho Heavy Industries, Xavier Leclercq, vice president in charge of newbuildings at CMA-CGM, and Kim Jung-hyuk, executive director of management support at HD Hyundai Marine Solutions.

HD Hyundai Marine Solutions, a comprehensive solutions company in HD Hyundai’s marine industry sector, is set to establish the first international standard for carbon emission management in the shipbuilding and shipping industry. This initiative aims to address the growing importance of managing and reducing greenhouse gas emissions, particularly in the “Other Indirect Emissions (Scope 3)” category, which has drawn significant attention from the industry.

LCA is an environmental soundness evaluation system that measures the carbon emissions generated throughout the entire life cycle of a product, from raw material extraction to manufacturing, distribution, use, and disposal. However, due to the nature of shipbuilding and shipping, where a vast amount of materials is used, and the processes are complex, measuring carbon emissions has been challenging, making it difficult to establish LCA.

Under this agreement, CMA-CGM and HD Hyundai Samho Heavy Industries will provide data on carbon emissions generated throughout the entire life cycle of a ship, from construction to operation and decommissioning. HD Hyundai Marine Solutions will establish a carbon emission measurement method applicable to the shipbuilding and shipping sectors based on the collected data.

HD Hyundai Marine Solutions plans to establish this as an international standard in the shipbuilding and shipping industry through third-party verification by organizations such as the Korea Standards Association. The company aims to provide a one-stop solution from carbon emission measurement to reduction measures by linking this with its digital solutions and eco-friendly retrofit business.

An official from HD Hyundai Marine Solutions stated, “With the strengthening of carbon emission regulations, the importance of establishing a systematic and objective carbon emission management system in the shipbuilding and shipping industry is gradually increasing,” adding, “We will establish an international standard for carbon emission management and emerge as a leader in the future decarbonization market.”

Source: Business Korea