South Korean shipping company HMM has signed a memorandum of understanding (MOU) with the Korea BioEnergy Association, Hyundai Heavy Industries Co., Korea Shipbuilding & Offshore Engineering Co., and the Korean Register of Shipping to develop marine biofuels.
An HMM Spokesperson told Offshore Energy-Green Marine that for the coming months, the parties involved in the biofuel project will be cooperating on establishing the quality standards, investigating the commercial feasibility, and developing a viable supply chain solution for the fuel.
“It is currently at an early stage, so any details or meaningful performances have yet to materialise,” HMM said.
Local media reported that HMM would test the use of bio heavy oil-mixed fuel for its 13,100 TEU class boxship currently in operation.
As disclosed, the project is part of the company’s strategy of expanding its presence in the field of sustainable energy for the future.
Biofuels have been gaining greater attention from the shipping industry as part of the maritime’s decarbonization goals as set by the IMO.
These fuels are predominantly produced from biomass, waste oils and agricultural waste.
Currently, the most widely used component is fatty acid methyl esters (FAME) or biodiesel, which is described in the latest ISO (8217/2017) specifications for marine fuel blends and is being offered by major oil companies.
These fuels require minimal or no changes to marine engines and fuel delivery systems, enabling for a rather smooth transition.
Companies like Norden, Stena Bulk, Maersk CMA CGM and MSC have all embarked on projects to test biofuel blends on their ships.