MOL, Woodside, HD KSOE and Hyundai Glovis collaborate

Mitsui O.S.K. Lines, Ltd. has announced the signing of a non-binding memorandum of understanding (MoU) with Woodside Energy Ltd (Woodside), a major Australian energy company and shipbuilding and engineering company HD Korea Shipbuilding and Offshore Engineering Co., Ltd. (HD KSOE) and shipping company Hyundai Glovis Co., Ltd. (Hyundai Glovis), both of South Korea, to jointly study the development of shipping solutions to enable bulk marine transportation of liquid hydrogen, which the three companies have been pursuing since 2022.

In this project, the participating companies will study the technology, safety, construction, operation, and economics of a carrier with 80,000 m3 tank capacity, with the aim of establishing a liquefied hydrogen supply chain in Asia and other regions. If a project results from the MoU, the parties aspire to have the vessel built and in operation by 2030. The liquefied hydrogen carrier would, under its concept design, use hydrogen as its main fuel, which is anticipated to significantly reduce CO2 emissions during operation.

Liquefied hydrogen takes up about 1/800th the volume of hydrogen gas. While liquefied hydrogen is non-toxic and can be transported safely and efficiently, it must be cooled to -253°C, which requires advanced technology. Woodside, HD KSOE, and Hyundai Glovis have evaluated MOL’s expertise gained through decades of experience in transporting liquefied natural gas (LNG) and its various efforts to address decarbonization issues, and approached the company to cooperate in this study, leading to the conclusion of the MoU.

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