South Korean shipbuilder Hanwha Ocean has officially joined forces with the Global Centre for Maritime Decarbonisation (GCMD) in a five-year strategic partnership aimed at advancing the global maritime industry’s decarbonisation. The collaboration focuses on three key areas: alternative low carbon fuels, energy efficiency technologies, and onboard carbon capture.
This partnership represents GCMD’s first centre-level partnership with a South Korean shipbuilder, further broadening the organisation’s reach into South Korea, a nation recognized for its technological leadership and dominance in the eco-friendly shipbuilding market. Hanwha Ocean’s involvement underscores the importance of aligning industry leaders to advance the development and implementation of sustainable solutions in the maritime sector.
Hanwha Ocean’s Commitment to Green Energy
As an affiliate of Hanwha Group, Hanwha Ocean is deeply committed to building a sustainable green energy value chain. Leveraging the Group’s expertise in energy and materials—spanning hydrogen, wind power, LNG, and ammonia—Hanwha Ocean aims to integrate its know-how in energy production and transportation facilities to drive decarbonisation in the shipping industry. Their focus on developing next-generation vessels that run on cleaner fuels demonstrates their dedication to creating a greener future for maritime operations.
Supporting the Ammonia Value Chain
The partnership between Hanwha Ocean and GCMD plays a complementary role in advancing the ammonia value chain for maritime applications. Hanwha Ocean is actively developing ammonia-powered vessels, collaborating with other Hanwha entities such as Hanwha Aerospace and Hanwha Power Systems.
In parallel, GCMD recently completed a series of ammonia transfer operations, simulating bunkering between vessels at anchorage in Australia’s Pilbara region. These successful trials pave the way for the establishment of ammonia bunkering infrastructure across multiple ports in preparation for the next wave of ammonia-fuelled vessels. Hanwha Ocean’s involvement in this initiative ensures its participation in shaping future-ready solutions in the shipping industry’s decarbonisation efforts.
Onboard Carbon Capture and Storage
Both Hanwha Ocean and GCMD are at the forefront of innovations in onboard carbon capture and storage (OCCS). Hanwha Ocean received an Approval in Principle from the Korean Register and the Marshall Islands Registry for their OCCS technology, which is slated for implementation on LNG carriers. This technology promises significant CO2 reductions in line with global emission goals.
GCMD has also been driving advancements in OCCS by conducting studies in partnership with maritime leaders. Their recent report explored the technical and economic feasibility of retrofitting an OCCS system on an MR tanker, with findings indicating the potential to reduce CO2 emissions by up to 20%, albeit with a fuel penalty of 10%. However, for OCCS to achieve widespread adoption, infrastructure readiness, regulatory frameworks, and port operations need further development.
Driving Industry-Wide Decarbonisation
Together, Hanwha Ocean and GCMD are united in their mission to support the maritime industry in achieving the International Maritime Organization’s (IMO) greenhouse gas reduction targets. This partnership seeks to combine GCMD’s ongoing pilots and decarbonisation trials with Hanwha Ocean’s innovative green technologies, accelerating the pathway to a carbon-neutral shipping industry.
Commenting on the partnership, Professor Lynn Loo, CEO of GCMD, stated, “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, shared his enthusiasm for the partnership, stating, “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.”
About Hanwha Ocean
Hanwha Ocean, a subsidiary of the Hanwha Group, is a leading South Korean shipbuilder focused on developing innovative solutions for maritime decarbonisation. With a strong foundation in green energy technologies, Hanwha Ocean is at the forefront of building vessels powered by alternative fuels such as ammonia, LNG, and hydrogen, playing a vital role in the shipping industry’s transition to a sustainable future.
About GCMD
The Global Centre for Maritime Decarbonisation (GCMD) is a non-profit organisation established to accelerate the adoption of decarbonisation solutions in the global maritime industry. Through partnerships, pilots, and technology trials, GCMD aims to lower the barriers to implementing low-carbon and zero-carbon solutions, with a focus on improving the industry’s sustainability and supporting global climate goals.