Korean Register (KR) signed an MOU with Hyundai Heavy Industry (HHI) Group to work together to address key environmental challenges facing the industry, reports Manifold Times.
Key environmental challenges
South Korean classification society Korean Register (KR) signed an MOU with Hyundai Heavy Industry (HHI) Group to work together in a strategic partnership to address key environmental challenges facing the industry, specifically decarbonisation, and the forthcoming IMO regulations.
Companies in HHI Group
The HHI Group encompasses a range of companies including:
- Korea Shipbuilding & Marine Engineering,
- Hyundai Heavy Industries,
- Hyundai Samho Shipbuilding,
- Hyundai Mipo Shipbuilding, and
- Hyundai Global Services.
About the MoU
According to KR, the MOU will see the exchange of technical information and human resources to drive progress on environmental matters.
Under the agreement, KR and HHI Group have agreed to work together to:
- research optimal solutions to improve the energy efficiency existing ship index (EEXI)
- develop measures to improve ship operation efficiency to improve carbon intensity indicator (CII)
- work together on the joint development of non-carbon fueled vessels such as ammonia and hydrogen
- explore ways to enhance the environmental life cycle of a ship by reducing gas emissions, etc.
IMO’s stringent environmental regulations
75th MEPC meeting
The International Maritime Organization (IMO) announced the enforcement of more stringent environmental regulations at the 75th MEPC meeting, in order to meet the goal of reducing greenhouse gas (GHG) emissions by 50% and carbon dioxide by 70% by 2050, compared to 2008 levels.
Incentives to ships
As a result, major shipping countries, shippers and financial sectors are gradually expanding policies that give incentives to ships with low GHG emissions and disadvantage ships with high emissions.
EEXI and CII regulations
Implementations in short term
In the short term, shipowners need to implement measures to meet the EEXI and CII regulations which come into force for existing ships in 2023.
Implementations in the long term
In the longer term, shipowners will need to convert their fleet into vessels propelled by carbon-neutral fuels such as ammonia and hydrogen.
KR and HHI group’s comments
KR and HHI group technical support
Moving forward, KR and HHI group will provide expert technical support to shipping companies enabling them to respond effectively to the new environmental regulations while strengthening the Korean shipbuilding industry’s technical superiority in the global market.
Executive Vice President of KR R&D Division
“We are determined to find the best technical solutions to the environmental regulations currently facing the shipping industry,” said Kim Dae-heon, Executive Vice President of KR R&D Division.
“This MOU brings KR and HHI Group together, sharing our expertise and HHI Group’s industry-leading ship building technology to develop eco-friendly ships for a safer and more sustainable future.”
Executive Vice President of Technical Department of Hyundai Heavy Industries
“Having the world’s strongest track record for building ships propelled by dual fuel such as LNG, LPG and methanol, HHI group will endeavor to develop various technologies to effectively respond to the strengthened environmental regulations thereby creating values for the future market,” added Joo Won-Ho, Executive Vice President of Technical Department of Hyundai Heavy Industries.
“Through continuous R&D activities and the construction of eco-friendly ships, we will do our best to realise ESG (Environment, Social and Governance) in the shipbuilding sector.”
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Source: Manifold Times
