Mitsui O.S.K. Lines, Ltd. (MOL) has announced the signing of a non-binding memorandum of understanding (MoU) with Woodside Energy Ltd, a major Australian energy company, and shipbuilding and engineering company HD Korea Shipbuilding and Offshore Engineering Co., Ltd. (HD KSOE), along with shipping company Hyundai Glovis Co., Ltd. of South Korea. The purpose of this collaboration is to jointly study the development of shipping solutions for bulk marine transportation of liquid hydrogen, a project that the three companies have been pursuing since 2022.
Hydrogen, being a lower-carbon energy source, has garnered significant attention as the world endeavors to transition towards decarbonization. Anticipated demand for the transport of liquefied hydrogen is projected to increase in the coming decades.
In this joint project, the participating companies will focus on studying the technology, safety, construction, operation, and economics of a carrier with an 80,000 m3 tank capacity. The ultimate goal is to establish a liquefied hydrogen supply chain in Asia and other regions. Should a project materialize from the MoU, the parties aim to have the vessel constructed and operational by 2030. The liquefied hydrogen carrier, as per its concept design, will utilize hydrogen as its primary fuel, which is expected to significantly reduce CO2 emissions during operation.
Liquefied hydrogen, occupying about 1/800th the volume of hydrogen gas, is deemed non-toxic and can be transported safely and efficiently. However, it necessitates cooling to -253°C, requiring advanced technology. Woodside, HD KSOE, and Hyundai Glovis have recognized MOL’s expertise gained through decades of experience in liquefied natural gas (LNG) transportation and its ongoing efforts in decarbonization. This recognition led them to approach MOL for cooperation in this study, culminating in the signing of the MoU.
The discussions among the parties involve Woodside being responsible for hydrogen production and storage at loading and discharging ports, while HD KSOE will handle the vessel’s design and construction. Hyundai Glovis and MOL will provide operational input into the vessel design, encompassing logistics, propulsion, storage, and cargo handling, should a project materialize from the MoU. This collaborative effort signifies a significant step towards sustainable transportation solutions and underscores the commitment of the involved parties to address environmental challenges in the maritime industry.
Source Mitsui O.S.K. Lines