[Yonhap News Agency/ October 5, 2023] In a concerted effort to curb carbon emissions, H-Line Shipping has joined forces with GS Caltex and POSCO to propel the use of bio-ship fuel oil. The triumvirate formalized their collaboration by signing a memorandum of understanding (MOU) at GS Tower in Seoul on the 5th, outlining their commitment to advancing the bio-ship oil business.

Under the terms of the MOU, the three entities—comprising oil refineries specializing in biofuels, steelmakers engaged in raw material transportation, and shipping companies managing vessels—will collectively strive to mitigate carbon emissions throughout the global maritime logistics value chain.

In pursuit of this objective, the companies have decided to fortify their collaboration in the production and utilization of bio-ship oil. As part of the initial phase, this month will witness the supply of bio-ship oil for a pilot operation involving POSCO's raw material-only ship (bulk ship).

Bio-ship oil, derived from renewable raw materials, holds the promise of reducing carbon emissions by over 65% when compared to traditional fossil fuel-based ship oil. This move aligns with global sustainability goals and underscores a significant stride in environmental responsibility within the maritime industry.

An official from H-Line Shipping remarked, "It is meaningful that we have taken a proactive step by conducting a pilot operation of a bio-oil fueled ship, representing domestic shipping companies."