Hanwha Kim Dong-kwan "Leading Global Maritime Decarbonization with Zero-Carbon Ships"

First Proposal of 'Zero-Carbon Propulsion Gas Carrier' in the Industry
Gas Turbine Operated 100% on Ammonia

"Hanwha's industry-first development of the 'carbon-free propulsion gas carrier' will be an important turning point for global decarbonization."

Hanwha Vice Chairman Kim Dong-kwan revealed Hanwha's marine decarbonization vision on the 17th at the Davos Forum (WEF) annual meeting session titled 'The First Fossil-Free Ship on the Water.'

Vice Chairman Kim expanded the decarbonization domain from renewable energy sources such as solar power, hydrogen, and wind power to the marine sector. Marine transportation accounts for 90% of global trade and is a major means of transporting various energy sources, representing 3% of global greenhouse gas emissions, thus holding a key role in decarbonization.

Kim Dong-kwan, Vice Chairman of Hanwha Group, is explaining about the world's first zero-carbon propulsion gas carrier at the 'World's First Fossil Fuel-Free Ship' session held at the World Economic Forum (WEF, Davos Forum) annual meeting in Davos, Switzerland, on the 17th (local time). Photo by Hanwha Group

Proposing the ‘Carbon-Free Propulsion Gas Carrier’ as a Decarbonization Game Changer

Vice Chairman Kim proposed a carbon-free propulsion gas carrier that uses 100% eco-friendly fuel and is capable of electric propulsion as a marine decarbonization solution.

Hanwha is developing a gas turbine that operates solely on 100% ammonia. Currently, ship internal combustion engines require about 5-15% pilot oil for stable combustion even when using eco-friendly fuels like ammonia or methanol, which is a limitation. However, Hanwha’s ammonia gas turbine under development is a carbon-free technology capable of operating on 100% ammonia alone.

Additionally, Hanwha plans to equip ships with hydrogen fuel cells and energy storage systems (ESS) as auxiliary power units to realize carbon-free electrification, and will also install an ammonia cracker onboard to produce the hydrogen needed for the hydrogen fuel cells.

Vice Chairman Kim also revealed plans for the demonstration of the carbon-free propulsion gas carrier. Hanwha will verify the safety of the carbon-free propulsion gas carrier, which it manufactures directly, through various methods and use this to drive global demand. Ships require significant capital investment, undergo a 2-3 year construction period, and operate for 20-30 years. Therefore, without proven safety through demonstration, actual orders are difficult to secure.

Hanwha Becomes First Korean Company to Join FMC… Strengthening Decarbonization Cooperation with Global Companies

Hanwha Ocean joined the First Movers Coalition (FMC), one of the Davos Forum’s flagship programs, in November last year as the first Korean company. FMC aims to create demand for potential decarbonization technologies and establish them in the market by involving related companies in high carbon-emission industries such as steel, chemicals, and aviation. It has 95 members including GM, Ford, Maersk, and Amazon. Through FMC, Hanwha plans to strengthen collaboration with global companies and lead carbon neutrality by continuously developing decarbonization technologies.

Rob van Riet, Acting Head of FMC, said, "Hanwha’s technology development and commitment are very important in the global decarbonization journey," adding, "We will prepare new global standards to accelerate decarbonization in cooperation with Hanwha."

Meanwhile, Vice Chairman Kim has attended the Davos Forum annually since 2010, strengthening networks with global leaders to enhance competitiveness toward becoming a sustainable company and to build a ‘Green Energy Hub.’

Due to these continuous efforts, Vice Chairman Kim was selected as a Young Global Leader at the Davos Forum in 2013. In addition, in 2022, he was the only businessperson to join the ‘Government Davos Special Envoy Group’ and engaged in private diplomatic activities.