South Korea and Australia to develop green shipping corridor
South Korea and Australia plan to develop a green shipping corridor connecting two or more ports between the two countries by 2029.
IMAGE: Industrial cargo ships in Busan port area, South Korea. Getty Images
A feasibility study for establishing the shipping corridor will be launched this year and will continue until the first half of next year, South Korea’s Ministry of Maritime Affairs and Fisheries said in an official statement.
Through the preliminary study, both countries will examine key factors for establishing green shipping routes, like low and zero-carbon marine fuel supply chains, cargo volume trends at various ports, port infrastructure and types of ships suitable for operation.
Green shipping corridors are maritime routes that actively show the use of low- and zero-emission lifecycle fuels, aiming to attain zero-emissions. These corridors function as collaborative initiatives involving various stakeholders, working to actualise the decarbonisation of a shipping route.
The two countries have selected six shipping companies including HMM, Hyundai Glovis, Pan Ocean, H-Line Shipping, POSCO Flow and G-Marine Service, to participate in this study, the ministry said.
The consortium also includes Korean Register of Shipping, Korea Maritime Safety Authority, Korea Research Institute of Ships and Ocean Plants, Busan Port Authority, Ulsan Port Authority, Korea Maritime Institute.
Based on the "results of the preliminary feasibility study, a roadmap for establishing green shipping routes will be established through feasibility studies on the economy, technology, and systems for the routes selected,” South Korea’s minister for maritime affairs Kang Do-hyung remarked.
By Aparupa Mazumder
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