South Korean shipping company HMM has conducted a biofuels trial on its vessel HMM Tacoma, using a 30% biofuel blend derived from cooking oil. The trial took place in Busan and the biofuel blend reduced greenhouse gas emissions by 24% compared to conventional fuel oil. HMM plans to increase its use of biofuel to 5-10% of its annual fuel consumption, despite the higher cost. The company has signed a Memorandum of Understanding with GS Caltex for the procurement of biofuels. HMM is also exploring other ways to reduce its carbon footprint, including investing in methanol dual fuel containerships and preparing for an onboard carbon capture and storage trial.
The use of biofuels is part of HMM’s efforts to become more environmentally friendly and reduce its carbon emissions. The company aims to position itself as a top-rated carrier in responding to climate issues. In addition to biofuels, HMM is investing in methanol dual fuel containerships, which are considered a greener alternative to traditional fuel. The company has also announced plans for an onboard carbon capture and storage trial to further reduce emissions from its existing fleet.
The shipping industry is increasingly looking for ways to reduce its carbon footprint and transition to more sustainable fuels. Biofuels and methanol are among the options being explored by companies like HMM. These initiatives are seen as important steps towards a carbon-free future and demonstrate the industry’s commitment to addressing climate change.