MOL, partners to study developing vessel for liquefied hydrogen

Japanese shipping company Mitsui OSK Lines Ltd (TYO:9104), or MOL, is partnering with Australian and South Korean companies to study transportation of liquefied hydrogen.

MOL said on Wednesday it has signed a non-binding memorandum of understanding with Australian energy company Woodside Energy Ltd (ASX:WDS), and two South Korean entities, HD Korea Shipbuilding and Offshore Engineering Co Ltd (HD KSOE) and shipping company Hyundai Glovis Co Ltd (KRX:086280). The team will jointly study the development of shipping solutions for bulk marine transportation of liquid hydrogen, with a view of establishing a liquefied hydrogen supply chain in Asia and other regions.

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The companies will look into the technology, safety, construction, operation and economics of a carrier with 80,000 cu m tank capacity. If the MoU materialises into a project, the parties aspire to have the vessel constructed and operational by 2030. Woodside is expected to be responsible for producing hydrogen and storing it at ports, HD KSOE would design and build the vessel, while Hyundai Glovis and MOL would contribute ship operational input to the vessel design, including logistics, propulsion, storage and cargo handling.

Liquefied hydrogen has about 1/800th of the volume of hydrogen gas. Although it is non-toxic and can be transported safely and efficiently, advanced technology is needed to cool it to the required minus 253 degrees C, MOL explained.