South Korean liner giant HMM announced that 99% of its owned vessels are well-placed to keep their voyage under the Carbon Intensity Indicator (CII) regulation.
The finding resulted from the verification of KR GEAR’, a Greenhouse Gas (GHG) Emission Authentic Reporting system launched by the Korean Register.
The results showed that 99% of HMM’s 67 owned vessels, except for one bulker, received a rating from A to D, which is currently allowed for vessel operation.
The one bulk ship under the E rating is expected to improve its CII rating by adjusting ship speed and using low-carbon biofuel.
HMM said its CII rating has been primarily led by an 11.1% reduction in port dwell time for its containerships.
The efforts on slow-steaming and installing more efficient propellers have also contributed to enhancing energy efficiency.
In addition, HMM will expand the use of premium anti-fouling paints to decrease ship resistance and will continue to promote alternative clean fuels.
“Responding to climate issues and improving environmental capabilities are key to success for a sustainable future,” an HMM official said.
"We will be dedicated to moving faster and better preparing for stricter environmental regulations.”
Interest in the performance of HMM has grown since the Korea Development Bank fired the gun on the HMM privatisation in March.
The privatisation has attracted interest from South Korea’s SM Group, which is HMM’s third-largest investor with a stake of 6.56%.
SM Group chairman Woo Oh-hyun told the Korea Economic Daily recently that his company had the financial firepower to buy its domestic rival HMM.
But he added that his conglomerate would not join the bidding for the ultra-large container ship, VLCC and bulker company if the price tag went above KRW 4.5trn ($3.55bn).
