Cooperation in Supplying Eco-Friendly Fuel... HMM Partners with China's SIPG

Providing Eco-Friendly Fuel at Shanghai Port, the World's No. 1

HMM is partnering with China Shanghai International Port Group (SIPG) to expand the supply of eco-friendly fuels.

HMM announced on the 3rd that it has signed a "Shanghai Port Eco-friendly Fuel Bunkering Memorandum of Understanding (MOU)" with SIPG.

Accordingly, HMM plans to cooperate on the supply of eco-friendly ship fuels such as methanol and liquefied natural gas (LNG) at Shanghai Port in the future. SIPG, a global terminal operator headquartered at Shanghai Port, the world's number one port, has been supplying LNG fuel to shipping companies worldwide since 2022. This year, it is expanding facilities to supply methanol fuel.

The agreement signed by HMM is interpreted as part of a response aligned with the global shipping industry's trend to expand the development and adoption of eco-friendly fuels to achieve "carbon neutrality by 2050." Earlier, in February last year, HMM ordered nine 9,000 TEU eco-friendly container ships primarily fueled by methanol. By the end of this year, it plans to operate two 7,700 TEU LNG-powered vessels.

HMM is also accelerating the establishment of an eco-friendly fuel supply chain. HMM has already secured eco-friendly fuel supply chains not only at Shanghai Port but also at major ports such as Busan and Singapore.

An HMM official said, "Through this cooperation with SIPG, we have expanded the eco-friendly fuel supply chain in China following Korea and Singapore," adding, "We will continue to strive for various measures to achieve carbon neutrality by 2050."

On the 27th of last month, at the Shanghai International Port Group (SIPG) headquarters in China, representatives from both sides, including Oh Seung-woo, Head of HMM China Region (far right), and Huang Haidong, SIPG Marketing Director (far left), took a commemorative photo after signing the "Shanghai Port Eco-friendly Fuel Bunkering Business Agreement." (Photo by HMM)