HD Hyundai’s subsidiaries, HD Korea Shipbuilding and Offshore Engineering (HD KSOE), and HD Hyundai Heavy Industries (HD HHI), inked a collaborative pact with Shell at the HD Hyundai Global R&D Center on May 24, 2024.
This agreement outlines a mutual endeavor to spearhead the development of large liquefied hydrogen carriers with the ambitious target of kickstarting commercial production by 2030.
HD KSOE will leverage its expertise to delve into the research and development of pivotal technologies like expansive liquefied hydrogen containment systems and efficient hydrogen cargo handling mechanisms. Simultaneously, HD Hyundai Heavy Industries will focus on engineering hydrogen propulsion systems and conceptualizing the design of these specialized carriers.
Shell, an integral partner in this venture, intends to contribute its wealth of knowledge in technology development and carrier operations. Furthermore, Shell will assess the viability of designing a liquefied hydrogen carrier.
The liquefied hydrogen maritime transport sector is poised for significant growth in the foreseeable future. According to market intelligence from Statista, the global hydrogen transportation sector, encompassing both marine vessels and pipelines, is anticipated to surge to an approximate value of $566 billion by 2050.
Earlier in February of this year, HD KSOE collaborated with domestic counterpart Hyundai Glovis, Japanese shipping titan Mitsui O.S.K. Lines (MOL), and Australian energy behemoth Woodside to explore solutions for bulk marine transportation of liquid hydrogen. This strategic alliance aims to establish a robust liquefied hydrogen supply chain across Asia and other strategic regions.
