Asia/Pacific News
Korea and Australia Eye 2029 Launch for Green Shipping Corridor
South Korea and Australia have begun work on establishing a green shipping route, with plans to start operations by 2029.
The initiative follows an MoU signed in February and marks the first formal step toward enabling low- or zero-carbon maritime trade between the two nations, South Korea's Ministry of Oceans and Fisheries said in a statement on Monday.
The study will examine key elements such as the supply chain for low and zero-carbon marine fuels, cargo volumes at major ports, the infrastructure needed for alternative fuel bunkering, and vessel types suitable for green operations.
It will run until mid-2026, after which a full roadmap will be developed.
"Afterwards, 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, thereby accelerating preparations for operating eco-friendly ships," the ministry said.
Several major Korean companies, including HMM, Hyundai Glovis, POSCO Flow, and Pan Ocean, are participating, alongside organisations such as the Korean Register of Shipping and the Korea Maritime Institute.
"Australia is a country that can stably supply clean energy, including marine fuel, to our country," Kang Do-hyung, Minister of Oceans and Fisheries, said.
