I Advancing the Zero-Carbon Bunkering Industry

On January 9, KR signed a Memorandum of Understanding (MoU) with Lotte Fine Chemical, HD Hyundai Heavy Industries, and HMM to boost the ammonia bunkering industry at the Ulsan Port Authority (UPA) headquarters.

The MoU is expected to further strengthen KR's role in environmentally friendly marine fuel bunkering, one of the major challenges facing the global shipping industry.

As the IMO tightens its greenhouse gas regulations in July 2023, ammonia, which does not emit carbon, is gaining traction as the next alternative fuel for ships. Orders for ammonia-powered ships are also on the rise, making advance preparation for bunkering essential.

While ammonia is considered a hazardous substance, the collaborating parties plan to use this opportunity to improve the system and regulations for its use as a marine fuel. They will cooperate in various areas, including building infrastructure for stable ammonia supply and conducting research and demonstrations to develop new businesses related to ammonia bunkering.

At the MoU Signing Ceremony for Boosting Ammonia Bunkering Industry (UPA)