South Korea’s leading container shipping company HMM has announced that it has entered into an agreement for a "green sailing service" with German logistics firm Hellmann.
The deal aims to reduce carbon emissions in HMM’s trade operations.
South Korean news agency Yonhap reports that it marks a significant milestone for HMM as it represents its inaugural contract for a green sailing service.
However, HMM did not disclose the precise financial details of the agreement.
The concept of the green sailing service involves the exchange of reduced carbon emissions, either directly or indirectly, by utilising low-carbon fuels.
Starting in the latter part of 2023, HMM initiated the use of eco-friendly biofuels on its ships, resulting in a substantial reduction in carbon emissions.
According to the carrier, Hellmann intends to allocate the acquired emissions reduction from HMM towards what is known as Scope 3 emissions.
These encompass indirect emissions occurring throughout the value chain and lie beyond the direct control of the organisation.
HMM has affirmed its commitment to intensifying its efforts to expand its green sailing service in the future.
This will involve a greater reliance on biofuels and the exploration of alternative fuel options. – SOURCE: The Investor.
