Photo credit: HMM

Seoul-based ocean carrier major HMM has sealed orders for nine methanol-fuelled 9,000 TEU newbuilding containerships. This is the latest company in the field to move for methanol-powered containerships, and it is considered by HMM as a major step toward accelerating carbon neutrality. Currently the company explores a range of sustainable energy sources, including methanol, LNG, hydrogen, and green ammonia.

The deal was signed with Hyundai Samho Heavy Industries(HSHI) and HJ Shipbuilding and Construction (HJSC) to build seven and two vessels, respectively, costing a total of USD 1.12 billion.

The ships are scheduled to be deployed on the Asia-North/Latin America trade lanes and the Asia-India routes, with expected delivery from 2025 to 2026. In particular, green shipping corridors between Busan in Korea and key ports in the U.S. are also one of the potential routes to operate the new ships.

Furthermore the company has signed a Memorandum of Understanding (MoU) agreement with five fuel mega suppliers, including Proman, PTTEP, European Energy, Hyundai Corporation, to secure the supply of methanol for its newly-ordered vessels.

In order to procure various types of methanol in its main bunkering ports, HMM will perform a feasibility study with each partner, and collaborate to produce green methanol as part of developing carbon-neutral fuels.

In accordance with analysis, as HMM explains, methanol significantly reduces greenhouse gas emissions compared to conventional oil-based fuels, bringing an immediate improvement in air quality around ports and shipping lanes.

The President and CEO of HMM, Kim, Kyung Bae said, “We will continue to drive efforts to support the global community’s broader transition to carbon neutrality while at the same time strengthening our fundamental level of future capability in the face of increasingly fierce competition in the global market.”