HD Hyundai Marine Solution inks agreement to collaborate on new carbon tracker

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HD Hyundai Marine Solution inks agreement to collaborate on new carbon tracker

Published: 16 Oct. 2024, 17:02

LEE JAE-LIM
lee.jaelim@joongang.co.kr

From left, HD Hyundai Samho CEO Shin Hyeon-dae, CMA-CGM’s Xavier Leclercq, vice president and head of CMA ships, and HD Hyundai Marine Solution’s managing director and chief financial officer, Kim Jung-hyuk, pose for a photo after a signing ceremony on the three companies' agreement to collaborate on the Life Cycle Assessment project. [HD HYUNDAI MARINE SOLUTION]

HD Hyundai Marine Solution, the ship aftermarket subsidiary of HD Hyundai, will establish the industry’s first global standard for measuring carbon emissions with HD Hyundai Samho and French shipping company CMA-CGM, it said on Wednesday.

The company recently signed a memorandum of understanding with the French shipper and the Korean shipbuilding subsidiary of HD Korea Shipbuilding & Offshore Engineering to accumulate data on the Life Cycle Assessment (LCA) system, which measures carbon emissions throughout a product’s entire life cycle, from raw material extraction to manufacturing, distribution, usage and disposal.

HD Hyundai Samho CEO Shin Hyeon-dae, CMA-CGM’s Xavier Leclercq, vice president and head of CMA ships, and HD Hyundai Marine Solution’s managing director and chief financial officer, Kim Jung-hyuk, attended the signing ceremony.

While the LCA model drew attention in the shipbuilding industry on the back of increasing awareness of sustainability, its implementation was initially challenging due to the massive amounts of materials involved and the complex processes in shipbuilding.

Under the agreement, CMA-CGM and HD Hyundai Samho will provide data on carbon emissions throughout the entire life cycle of a ship, while HD Hyundai Marine solution will develop a measurement method that can be applied to shipbuilding and the shipping industry based on the data.

The company plans to promote its developed method as a global standard for third-party verifications such as the Korea Standards Association, and plans to deploy the model in the company’s in-house digital solutions and eco-friendly retrofit businesses.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]