HMM signs MoU with GS Caltex to secure marine biofuels

[From left to right] S.H. LEE (Executive Vice President, GS Caltex); Park, Jinki (Senior Executive Vice President, HMM)

PRESS RELEASE

<Seoul, 26 April 2023> – HMM has signed a Memorandum of Understanding (MoU) with GS Caltex to secure marine biofuels. HMM also plans to conduct the trial use of the fuels on its three 24,000 TEU containerships in the second half of this year.

The marine biofuels comprise 30 percent biodiesel derived from used cooking oil and 70 percent high-sulfur fuel oil(HSFO). Biodiesel reduces greenhouse gas emissions by 80% compared to conventional fuels. Biofuels have the merit of being compatible with current ship engines without technological modification.

In 2021, HMM performed the first test voyage using biofuels on its 13,100TEU containership. The vessel HMM Dream, deployed in EC1 (East Coast 1) service connecting Asia and the US East Coast, successfully completed the voyage in the Pacific Ocean.

Park, Jinki, Senior Executive Vice President of HMM, said, “Based on this 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 “.