New vessel part of HMM’s strategy to achieve carbon neutrality by 2045

Hyundai Merchant Marine (HMM) announced the acquisition of Korea’s first methanol-powered container ship, “HMM Green,” on March 25. This 9,000 TEU vessel is part of HMM’s ambitious plan to achieve carbon neutrality by 2045, reflecting broader industry trends and national priorities in South Korea.

In February 2023, HMM placed an order for nine eco-friendly ships, including seven from HD Hyundai Samho and two from HJ Shipbuilding. HMM Green utilizes bio-methanol produced from waste resources like scrap tires, which can reduce carbon emissions by over 65%, sulfur oxides (SOx) by 100%, and nitrogen oxides (NOx) by up to 80% compared to traditional fossil fuels. This aligns with the European Union’s Emission Trading System (ETS), which considers carbon emissions to be zero for fuels that achieve such reductions.

HMM Green is equipped with various eco-friendly technologies, including a nitrogen oxide reduction device, shore power facilities (AMP), electric heaters, and ballast water treatment systems (BWTS). These innovations are crucial in minimizing the environmental impact of shipping operations, adhering to stringent regulations set by the International Maritime Organization (IMO) and regional bodies like the EU.

The ship is set to be deployed on the India-Mediterranean route (FIM), a strategic lane in global trade that underscores the economic importance of eco-friendly shipping. HMM’s initiative not only enhances competitiveness but also aligns with global efforts toward carbon neutrality, a movement gaining momentum across industries worldwide.

An HMM representative stated, “With the expansion of eco-friendly fuel ships such as methanol and liquefied natural gas (LNG), we are closer to achieving the ‘2045 Net Zero’ goal.” The company is also actively involved in research and development of next-generation eco-friendly fuels such as ammonia and hydrogen to continuously practice eco-friendly management.

HMM plans to receive a total of nine eco-friendly ships by the first half of next year, further solidifying its role as a leader in sustainable maritime practices.

Source : Businesskorea