ULSAN < invest Korea

On January 9, the Ulsan Port Authority (UPA) announced that it has signed a MOU with Korean Register of Shipping, Lotte Fine Chemical, HD Hyundai Heavy Industries, and HMM on revitalization of the ammonia bunkering industry.

According to the UPA, ammonia bunkering is the refueling of ammonia, a next-generation carbon-free energy source, as ship fuel.

With tightening of greenhouse gas emission regulations by the IMO since July 2023, amonia, which does not emit carbon, has garnered attention as an alternative fuel for ships.

The UPA explained that preparation for bunkering is necessary as orders for ammonia-powered ships have been on the rise.

In response, the parties to the MOU including the UPA agreed to revise systems and regulations to use amonia, which tend to be regarded as hazardous, as fuel for ships.

They also plan to cooperate in various fields such as establishing infrastructure for stable supply of ammonia, carrying out research and demonstration for the growth of new industries related with ammonia bunkering.

In particular, the UPA plans to provide effective ammonia bunkering services based on the liquid cargo handling capabilities of Ulsan Port, Korea's No. 1 liquid cargo handling port.



yongtae@yna.co.kr

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Source: Yonhap News (January 9,2024)