HMM and Shanghai International Port Group sign clean marine fuel agreement

South Korean ocean carrier HMM has signed a Memorandum of Understanding (MoU) with Shanghai International Port Group (SIPG) on supply cooperation of Clean Marine fuel.

This agreement will focus on bunkering methanol and LNG at Shanghai Port in China, while it also covers supporting carbon reduction goals, promoting global shipping new energy cooperation, and helping shipping energy transformation and sustainable development.

HMM has committed to achieving net-zero emissions for the entire business by 2050. “To accomplish this aim, it is critical to establish port bunkering infrastructure for clean marine fuel,” said the company.

HMM is expanding to develop sustainable eco supply chain networks at Shanghai Port and other important container ports, such as Singapore and Busan. The container carrier also signed new building contracts for nine 9,000 TEU vessels powered by methanol, and plans to operate two 7,700 TEU LNG-powered vessels by the end of this year.

SIPG continues to become a front-runner in promoting the development of green and ecological ports. Since 2022, SIPG has provided bonded LNG bunkering services for many shipping companies worldwide. Currently, all preparations for green methanol bunkering in Shanghai Port have been completed.

“Through this cooperation with SIPG, we have expanded our green fuel supply chain in China, following Korea and Singapore. We will continue to strive for various efforts to find a way to go green,” stated an HMM official.

Sources: Container News