The Global Centre for Maritime Decarbonisation (GCMD) and Hanwha Ocean have unveiled a five-year strategic partnership on maritime decarbonisation. The areas of focus will be low-zero-carbon fuels, energy efficiency, and onboard carbon capture technology.
Today in Seoul the GMCD have announced their partnership with the South Korean shipbuilder, Hanwha Ocean. This is the first partnership of its kind for GCMD, who regard the move as a “significant step forward in aligning industry leaders to achieve common decarbonisation goals”.
Hanwha Ocean, part of Hanwha Group, brings to the partnership a longstanding commitment in using advanced technology to develop decarbonisation solutions. The shipbuilder intends to leverage Hanwha Group’s existing strengths in energy and materials, such as hydrogen, wind power, LNG and ammonia.
The five-year strategic partnership will involve mutual development in these key areas: complementary roles in the ammonia value chain and advancing onboard carbon capture and storage as a decarbonisation solution.
GCMD recently published a report on the technical, operational, and economic feasibility of OCCS technology retrofitted on an MR tanker. The assessment, which formed a collaboration between GCMD and a consortium of maritime leaders, found that OCCS technology can reduce CO2 emissions by as much as 20% at a fuel penalty of 10%.
Professor Lynn Loo, GCMD CEO, commented: “With Hanwha Ocean joining us as a Strategic Partner, I am excited about our combined efforts to advance decarbonisation. Hanwha Ocean and GCMD are addressing different parts of the value chain, whether in enabling ammonia as a marine fuel or further closing gaps in the onboard carbon capture value chain. We look forward to co-learning with them, leveraging their expertise in our pilots to operationalise solutions, and leaning on their market leadership, to accelerate shipping’s efforts in this space.”
Young Chang (James) Shon, CTO of Hanwha Ocean, said, “Hanwha is actively participating in every wave of green innovation, developing advanced technologies to provide carbon-neutral maritime solutions. The time for action is now, and we are fully committed to driving meaningful change. Embarking on this journey with GCMD excites us as we work together to realize a carbon-free future for shipping. Through this collaboration, not only will we contribute to environmental sustainability, but we will also create economic value for the maritime industry by paving the way for future-proof solutions.”
Source: GCMD