The South Korean container shipping company HMM has signed a memorandum with compatriot LOTTE Fine Chemical of understanding for the maritime transport of ammonia and methanol which represents an extension of the agreement signed by the two parties in 2021 for maritime transport and bunkering of green ammonia. The new agreement provides that HMM's vessels export ammonia produced by LOTTE Fine Chemical, a company chemical that owns the largest storage facility of ammonia from South Korea.

In addition, the agreement provides that it supplies ammonia and methanol as fuel for the ships of the shipping company, including the nine new methanol container ships that HMM has ordered last February ( of 14 February 2023). "This agreement - he explained the CEO of LOTTE Fine Chemical, Kim Yong-seok - is based on HMM's plan to introduce ships powered by ammonia and methanol, and in this respect it is important to establish prior bunkering services of ammonia and methanol'.

HMM and LOTTE Fine Chemical recalled that, according to provided by the analysis "Net Zero

by 2050. A Roadmap for the Global Energy Sector" of the International Energy Agency (IEA), ammonia in 2025 will account for about 45% of global energy demand by maritime transport.