The global shipping industry transports approximately 80% to 90% of world trade, including 64% of oil, 17% of natural gas, and 15% of coal. Despite this, most vessels continue to rely on conventional fossil fuels such as marine diesel and heavy fuel oil.
This dependency creates vulnerabilities linked to fuel price volatility, geopolitical risks, and environmental regulations, according to Hanwha's release.
Transitioning to electrification through energy storage systems (ESS) and hydrogen fuel cells offers a strategic solution.
ESS provide onboard battery storage for propulsion and auxiliary power, while hydrogen fuel cells generate electricity through hydrogen-oxygen reactions with water as the only byproduct.
Electrified vessels reduce fossil fuel dependence, lower operational costs, and comply with emissions regulations.
While fully electric ocean-crossing ships are a longer-term objective due to current technological limitations, incremental adoption is underway, particularly in ferries, tugs, and port service vessels.
Hydrogen fuel cells and ESS are being piloted and integrated into maritime systems, though challenges remain, such as hydrogen storage and infrastructure availability.
Ammonia presents a potential solution as a hydrogen carrier. Hanwha is actively investing across the maritime sector to accelerate this transition.
The company has also received Approval in Principle from DNV for a 200kW hydrogen fuel cell system, supporting its global commercialization efforts.
Hanwha leverages integrated capabilities across energy generation, propulsion innovation, and shipbuilding to reduce development time and supply chain risks, positioning itself as a key player in advancing maritime energy security through electrification.
Hanwha is a South Korean conglomerate with diversified businesses including energy, manufacturing, aerospace, and defense. The company invests heavily in advanced technologies to support sustainable and resilient energy solutions.