Sunday, June 22, 2025
Home News HMM, LOTTE Fine Chemical sign agreement for ammonia fuel transportation

HMM, LOTTE Fine Chemical sign agreement for ammonia fuel transportation

HMM and LOTTE Fine Chemical have signed a Memorandum of Understanding (MoU) for the marine transportation of ammonia. The agreement also includes the bunkering of ammonia and methanol fuel.

According to the agreement, HMM will transport ammonia fuel secured by LOTTE Fine Chemical and will be in charge of overall vessel operation during transit.

Meanwhile, LOTTE Fine Chemical, which owns Korea’s largest ammonia storage facility, intends to supply ammonia and methanol fuel to the vessels of the South Korean ocean carrier.

“We are generating enterprise-wide efforts to accelerate our environmental initiatives for a carbon-free future. We will continue to explore sustainable and clean energies and find a way to go green,” stated an HMM official.

According to the ‘Net Zero by 2050’ scenario reported by the International Energy Agency (IEA), ammonia attracts attention as one of the next-generation energy sources and is expected to account for around 45% of the demand for marine fuels in 2050.





Latest Posts

Thessaloniki port Revival: Balkan gateway reawakens

 For decades, Thessaloniki was a port with strategic promise but structural limitations, ideally located at the crossroads of Europe and the Balkans, yet constrained...

Vigor Marine Group’s consolidation signals US push to counter China’s shipbuilding dominance

In a bold move to strengthen America’s maritime capabilities, five leading US ship repair and marine service providers have united under a single banner. This...

AI reshape shipping operations

The integration of artificial intelligence into shipping operations, is poised to transform competition in the maritime industry by enhancing efficiency, safety, and sustainability while...

From risk to reliability: The case for specialist freight partners

The freight forwarding landscape is increasingly complex. Importers and exporters are navigating a minefield of shifting customs regulations, stricter environmental pressures, and a rapidly...

Calling Up Innovation: How Large-Format 3D Printing Is Changing the Manufacturing Game

The manufacturing industry has always been at the forefront of adopting new technologies to improve efficiency, reduce costs, and expand creative possibilities. In recent...
error: Content is protected !!