On June 4, during the Posidonia exhibition held at the Metropolitan Expo Center in Athens, HJ Shipbuilding CEO Yoo Sang-cheol and KR Executive Vice President Cho Byung-sam met to sign the certification agreement. Posidonia is recognized as one of the world's top three maritime and shipbuilding exhibitions, alongside Norway's Nor-Shipping and Germany's SMM in Hamburg.
Biofuel for ships refers to a carbon-reducing fuel that blends traditional fossil fuel-based marine oil with a certain percentage of plant and animal oils. With the International Maritime Organization (IMO) tightening carbon emission regulations and the European Union (EU) implementing new environmental regulations, including maritime fuel regulations and the EU Emissions Trading System, the use of biofuels is increasing in major ports worldwide, emerging as an eco-friendly alternative fuel.
Interest in biofuels has grown among shipowners attending Posidonia, prompting the shipbuilding industry to proactively secure technology and respond to market demands.
To secure relevant technology, HJ Shipbuilding collaborated with KR last year, applying a biofuel propulsion system to the 10,000 TEU container ship it is currently building. The company completed its technology development last month and obtained certification on this day.
Yoo Sang-cheol, CEO of HJ Shipbuilding, stated, "The development of biofuel-powered container ship technology is expected to have a positive impact on our sales and order activities in the eco-friendly ship market. Building decarbonized ships is essential for reducing greenhouse gas emissions, and we will secure technological competitiveness to build trust with shipowners."
Meanwhile, HJ Shipbuilding reported a more than 347% increase in operating profit in the first quarter compared to the same period last year, indicating significant performance improvement. The company is expected to continue this positive trend as it advances from high-value shipbuilding to biofuel propulsion.
* This article has been translated by AI.
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