Ulsan Port Authority (UPA) has signed a Memorandum of Understanding (MOU) with Pacific Environment (PE), an international environmental organization, to accelerate the transformation of shipping ports into eco-friendly ports. The MOU was signed during UPA’s ‘Shipping Port Decarbonization Networking Reception’ on 17 April during Singapore Maritime Week, according to the company's release.
The reception was attended by more than 32 organizations including major port officials, shipping lines, and climate environment non-profit organizations from all over the world including the United States, Asia, the United Kingdom, and Australia, confirming the high level of interest in decarbonization in the maritime sector and beyond.
Through this agreement, the two organizations agreed to actively cooperate to support the design and development of decarbonization policies for shipping ports in the Asia-Pacific region and the construction of green shipping routes. In addition, it will support policy analysis and development to solve climate issues, such as the use of clean energy in the maritime sector and the end of marine plastic pollution; promote eco-friendly fuel bunkering at Ulsan Port; develop safety standards and train port workers; and share best practices and jointly hold workshops in future cooperation areas.
In addition, Soon-yo Jeong presented Ulsan Port's strategy for building an eco-friendly energy logistics hub and sales of eco-friendly ship fuel supplies such as methanol and ammonia, which were well received by the attendees.
In July 2023, Ulsan Port became the first in the world to supply green methanol to a container ship and in February 2024, it successfully supplied green methanol fuel to the world’s first commercially operated ultra-large (16,200 TEU) container ship. In addition, the port plans to build a clean hydrogen and ammonia terminal at Ulsan New Port by 2030 to store ammonia to produce and supply hydrogen.
Established in 2007, Ulsan Port Authority is responsible for the development, management, and operation of Ulsan Port, the world's fourth largest and South Korea's largest liquid cargo-centered port. Since its opening in 1963, Ulsan Port has played a crucial role as South Korea's leading industrial support port, growing into a trade port with an annual cargo volume of approximately 200 million tons.