HMM Signs MoU with SIPG on Clean Marine Fuel Bunkering

PRESS RELEASE

Seoul, 03 April 2024: – HMM has signed a Memorandum of Understanding (MoU) with Shanghai International Port Group (SIPG) on supply cooperation of Clean Marine fuel. This MoU will focus on bunkering methanol and LNG at Shanghai Port. 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 target for the entire business by 2050. To accomplish this aim, it is critical to establish port bunkering infrastructure for clean marine fuel.

HMM is continuously expanding to develop sustainable eco supply chain networks at Shanghai Port and other key ports such as Singapore and Busan. HMM also signed new building contracts for nine 9,000TEU vessels powered by methanol, and plans to operate two 7,700TEU 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.” said an HMM official.