HMM and Lotte Fine Chemical have formed a partnership to transport and supply next-generation environmentally friendly fuel, ammonia, via sea transport.

The two companies recently signed a “carbon-neutral ammonia sea transport ammonia and methanol bunkering (ship fuel supply) agreement.”

They have also signed a “green ammonia transport and bunkering consortium agreement” with other major Korean companies, such as POSCO and Korea Shipbuilding & Offshore Engineering.

“We are committed to environmentally friendly fuel transport and procurement through proactive business cooperation,” said HMM CEO Kim Kyung-bae.

“The partnership will proactively establish bunkering services for ammonia and methanol based on HMM’s plans to introduce ammonia and methanol propulsion systems,” Lotte Fine Chemical CEO Kim Yong-seok stressed.