European Energy and the Republic of Korea’s largest shipping company HMM join forces to secure future methanol supply
European Energy has signed a memorandum of understanding with HMM to secure the supply of methanol for its newly ordered fleet of green vessels, according to the company's release.
The agreement entails that European Energy, as a supplier of e-methanol, will support HMM in establishing a green methanol supply chain. HMM, the world 8th largest shipping company, has ordered nine vessels that will be dual-fuel container vessels. The ships are scheduled to be deployed on the Asia-North/Latin America trade lanes and the Asia-India routes, with expected delivery from 2025 to 2026.
– There is a movement towards more green transportation across the whole shipping industry. This will be a crucial part of the global green transition away from fossil fuels and significantly reduce greenhouse gas emissions. European Energy will as one of the frontrunners in the global e-methanol development seek to support and accelerate this movement towards green fuels for the shipping industry, says Knud Erik Andersen, CEO of European Energy.
European Energy is currently constructing the world’s largest e-methanol facility in Aabenraa municipality in the southern part of Denmark.
It is expected that the first e-methanol will be produced by the end of 2023.
When fully operational the facility will be able to produce 32,000 tons of e-methanol annually.
