Shipping company Hyundai Merchant Marine (HMM) on Thursday (20 August) reportedly signed a memorandum of understanding (MOU) to demonstrate the use of bio heavy oil as bunker fuel on an industrial scale as part of its goal to reduce greenhouse gas emissions in shipping.
The MOU was signed with the Korea Bio Energy Association, Hyundai Heavy Industries Co., Korea Shipbuilding & Offshore Engineering Co., and the Korean Register of Shipping.
Bio heavy oil is an alternative fuel processed from animal and vegetable oils and biodiesel by-products.
The consortium expects the fuel to be able to become a viable eco-friendly bunker fuel through further research and development as it has similar properties to existing marine fuels.
Through this agreement, the group plans to establish quality standards for bio-heavy oil, building a fuel supply system, and verifying the viability of bio-heavy oil as bunker fuel through onshore and onboard tests, and promoting additional research necessary for the commercialisation of bio-heavy oil.
“HMM established an R&D team last year and is continuously pursuing research on GHG reduction to respond to climate change as well as respond to global environmental regulations,” said Choi Jong-cheol, head of maritime affairs at HMM.
“If the application of bio heavy oil to ships becomes a reality through this verification, It is expected to be of great help in reducing ship greenhouse gas emissions.”
Photo credit: Hyundai Merchant Marine
Published: 24 August, 2020
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