HMM to transport ammonia for Lotte Fine Chemicals

Hyundai Merchant Marine (HMM) will provide vessels for transporting ammonia from overseas locations to South Korean firm Lotte Fine Chemical’s (LFC) ammonia storage facility in the South Korean Port of Ulsan.

PHOTO: HMM container ship docked at port. HMM

The agreement also covers LFC supplying methanol as bunker fuel for HMM’s vessels.

“This agreement is based on HMM’s plan to introduce ammonia and methanol propulsion ships. It is meaningful to pre-emptively establish ammonia and methanol bunkering services,” said Lotte Fine Chemical’s chief executive Kim Yong-seok.

Ulsan port already has methanol bunkering facilities, and LFC's ammonia storage capacity will be expanded to supply ammonia-powered vessels from 2025.

Earlier this year, LFC signed separate offtake agreements with the Netherlands-based ammonia producer OCI and US-based ammonia producerCF Industries for import of blue and green ammonia into South Korea. It is also expected to procure green methanol to use as bunker fuel for ships, including for HMM's nine methanol-fuelled vessels currently on order.

By Konica Bhatt

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