25 July 2023 (LLoyd's List) - SOUTH Korean shipping line HMM said more than 80% of its owned fleet has been rated C or above in the International Maritime Organization’s Carbon Intensity Indicator. Korean Register’s greenhouse gas emission reporting system, ‘KR GEARs’, was used to verify the results.

The rating is based on the amount of carbon dioxide emitted per dwt nautical mile on an annual basis, with ships receiving a rating from A to E. Tonnage rated D for three consecutive years, or E in one year, will be required to submit a corrective action plan to improve its performance.

Among the 67 vessels owned by HMM, 24, 22 and 12 of them received an A, B and C rating respectively, accounting for 87% of the total. HMM also owns eight D-rating ships and one E-rating unit, which is a dry bulker.

It attributed the performance to multiple factors, including an 11% reduction in port dwell time for containerships, slow steaming, and installing more efficient propellers. “In addition, HMM will expand the use of premium anti-fouling paints to decrease ship resistance and will continue to promote alternative clean fuels,” said the company.

In February 2023, HMM ordered nine methanol dual-fuel 9,000 teu containerships for more than $1bn from two South Korean shipyards.