HMM is looking to enter the ammonia trades. The company has signed a memorandum of understanding(MoU) with compatriot. LOTTE Fine Chemical for the marine transportation of ammonia. The MoU also covers the bunkering of ammonia and methanol fuel.
In 2021, HMM launched a consortium 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.
HMM and LOTTE Fine Chemical have now extended their cooperation. Based on the MoU signed today, 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.
According to the Net Zero by 2050 scenario reported by the International Energy Agency (IEA), ammonia attracts attention as one of the next-generation energy sources and is expected to account for around 45% of the demand for marine fuels in 2050.
Recent Posts
Ammonia
Azane Unveils New Subsidiary to Drive Ammonia Bunkering Development Oslo, Norway
Fuels Heavy oils
Public sector carbon emissions fall to 3.7 mn tonnes in Singapore
Fuels Heavy oils
UltraTech Cement targets to achieve 85% green energy
Fuels LNG
JCB unveils hydrogen combustion technology