SOUTH Korean shipping major HMM has signed a Memorandum of Understanding (MoU) with compatriot specialty chemicals company LOTTE Fine Chemical for the marine transportation of ammonia, reports the Netherland's Offshore Energy.
The MoU also covers the bunkering of ammonia and methanol fuel and comes after HMM made a major order for methanol-powered containerships.
HMM has ordered nine 9,000 TEU containerships powered by methanol dual-fuel engines from Hyundai Samho Heavy Industries (HSHI) and HJ Shipbuilding and Construction (HJSC).
The ships are scheduled to be deployed on the Asia-North/Latin America trade lanes and the Asia-India routes, with expected delivery from 2025 to 2026.
HMM said that the green shipping corridors between Busan in Korea and key ports in the US are also one of the potential routes to operate the new ships.
In addition, the company has teamed up with five fuel suppliers, including Proman, PTTEP, European Energy, and Hyundai Corporation, to secure the supply of methanol for its newly-ordered vessels.
The latest cooperation deal between HMM and Lotte builds on the work of a consortium HMM made in 2021 with five Korean partners to seek feasible solutions to form the end-to-end supply chain for green ammonia. LOTTE Fine Chemical was one of the five members.
Based on the MoU signed, HMM will carry ammonia fuel secured by LOTTE Fine Chemical and take charge of overall vessel operation during transportation. LOTTE Fine Chemical, which has Korea's largest ammonia storage facility, plans to procure ammonia and methanol fuel for the supply to HMM's vessel.
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