South Korean shipbuilder HD Korea Shipbuilding and Offshore Engineering (KSOE) has entered into a memorandum of understanding with compatriot logistics company Hyundai Glovis, Australia's Woodside Energy, and Japanese shipping company Mitsui OSK Lines (MOL) for cooperation in the development of a liquefied hydrogen (LH2) transportation value chain.
Since 2022, KSOE has been working with Woodside and Hyundai Glovis to jointly develop a marine value chain solution that considers the LH2 import and export environment and ship operations. Under the MOU, each of the four companies will develop safe, efficient, and low-carbon hydrogen shipping technology by 2030.
KSOE will be the lead company in developing large LH2 carriers that can be technically and commercially operational by 2030. Woodside will ensure the supply of LH2 while Hyundai Glovis and MOL will review the technical feasibility of operating an LH2 carrier and conduct any research necessary for the operation of the vessel.
