South Korea and Australia have decided to establish a green shipping corridor to support international shipping’s zero-emission goals and create an environment for eco-friendly fuel supply.
Representatives of the two governments have signed a memorandum of understanding (MOU) aimed at operating the green route from 2029, South Korea’s Ministry of Oceans and Fisheries (MOF) said.
The duo aims to begin the process of establishing the green shipping corridor in the first half of this year, including a preliminary feasibility study.
It is understood that, along such routes, vessels do not emit carbon emissions as they use green fuels and eco-friendly technologies while sailing between ports.
“Establishing a green shipping route is the most effective means to achieve carbon neutrality in shipping,” Kang Do-hyung , Minister of Oceans and Fisheries, commented.
“I hope that through the signing of this MOU, the two countries will strengthen cooperation so that a green shipping route connecting Korea and Australia can be successfully established.”
Under the MOU, South Korea and Australia intend to pursue cooperation in various areas, including:
Almost a year ago, Australia also signed the MOU with Singapore to formally collaborate on establishing the Singapore-Australia Green and Digital Shipping Corridor (GDSC).
Under the MoU, the Maritime and Port Authority of Singapore (MPA) and the Australian Government Department of Infrastructure, Transport, Regional Development, Communications and the Arts (DITRDCA) committed to work with interested partners to explore opportunities to develop zero or near-zero greenhouse gas (GHG) emission fuel supply chains for the maritime industry, including building necessary infrastructure, formalizing standards, and developing and implementing the training requirements.