HMM signs deal with GS Caltex to secure marine biofuels.

South Korean major ocean carrier HMM will cooperate with its compatriot oil refiner GS Caltex to secure marine biofuels.

The marine biofuels comprise 30{7bfcd0aebedba9ec56d5615176ab7cebc5409dfb82345290162ba6c44abf8bc8} biodiesel derived from used cooking oil and 70{7bfcd0aebedba9ec56d5615176ab7cebc5409dfb82345290162ba6c44abf8bc8} high-sulfur fuel oil (HSFO). When compared to traditional fuels, biodiesel reduces greenhouse gas emissions by 80{7bfcd0aebedba9ec56d5615176ab7cebc5409dfb82345290162ba6c44abf8bc8}.

According to HMM’s statement, Biofuels have the advantage of being technologically compatible with contemporary ship engines.

Park Jinki, senior executive vice president of HMM, said:

Based on this Memorandum of Understanding (MoU), we expect to generate less greenhouse gas emissions and thereby contribute to limiting climate change.

“We will continue to enhance our environmental competence by accelerating R&D activities.”

HMM conducted the first biofuel test voyage on its 13,100 TEU container ship, HMM Dream, in 2021. The vessel was deployed in EC1 (East Coast 1) service between Asia and the US East Coast and successfully completed the Pacific Ocean voyage.

The container shipping company also intends to test the fuels on three 24,000 TEU container vessels in the second half of 2023.

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HMM signs deal with GS Caltex to secure marine biofuels, April 26, 2023