On Wednesday, during the KORMARINE 2025 exhibition in Busan, Hanwha Group’s four affiliates, including Hanwha Power Systems, signed a memorandum of understanding (MOU) with Korea’s largest shipping company, HMM, and the Korean Register (KR), a leading vessel technology organization. This tripartite agreement aims to advance carbon neutrality in global maritime transportation through the development of innovative propulsion systems for vessels.
The collaboration focuses on creating a propulsion system that integrates fuel cells and ammonia gas turbines for 7,000 to 8,000-ton vessels. In addition, they will explore hybrid propulsion systems incorporating fuel cells and battery technology specifically designed for 2,000-ton feeder vessels. The three parties will leverage their respective expertise, with Hanwha leading the charge in developing comprehensive technological solutions for carbon-free propulsion. HMM will utilize its extensive commercial navigation data to verify the performance of these systems, while KR will ensure adherence to regulatory standards, safety requirements, and profitability thresholds.
The MOU represents a concerted effort to elevate the South Korean maritime industry by combining Hanwha’s technological capabilities, HMM’s navigation experience, and KR’s regulatory oversight. Hanwha recently received recognition from the American Bureau of Shipping with an approval-in-principle for the upgrade of 174,000-ton liquefied natural gas tankers to utilize ammonia gas turbines, demonstrating its commitment to sustainability.
Kim Hyoung-seok, head of Hanwha Power Systems’ Maritime Solutions Business Division, expressed optimism that the fuel cell-ammonia gas hybrid turbine propulsion system will set a new standard for decarbonizing the maritime shipping sector. Similarly, HMM’s Kim Min-kang emphasized that this partnership is poised to accelerate a shift towards an eco-friendly fleet. Yeon Kyu-jin from KR noted that the project exemplifies the effectiveness of a tripartite approach, ensuring safety and regulatory standards from research inception to implementation.
Overall, this collaboration marks a significant step in promoting sustainable practices within maritime transportation, emphasizing innovation and cooperative efforts among leading industry players.
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