On the 29th, the Ministry of Oceans and Fisheries announced that it will proceed with a feasibility study for establishing a green shipping route between Korea and Australia.
A green shipping route refers to a logistics transport process that aims for zero carbon emissions during the entire trip connecting two or more ports, primarily utilizing low or zero-carbon fuel and eco-friendly technologies.
Korea and Australia plan to thoroughly review key tasks for selecting a green shipping route through a feasibility study, including ▲ analysis of eco-friendly fuel supply chains between the two countries ▲ investigation of export and import cargo and demand trends by port ▲ study of port infrastructure systems for fuel supply ▲ evaluation of suitable types of vessels for operation.
The feasibility study being initiated this time marks the first step since the signing of a memorandum of understanding for cooperation in establishing a green shipping route between Korea and Australia in February. So far, the two countries have established plans required for the feasibility study through collaboration, and once private companies and research institutions interested in participating are confirmed, the study is expected to proceed until the first half of next year.
Both sides plan to conduct feasibility studies on selected routes based on the results of the feasibility study. Following this, they will establish a roadmap for building the green shipping route and will actively prepare for the operation of eco-friendly vessels.
Minister Kang Do-hyung said, "Australia is a country that can reliably supply clean energy, including ship fuel, to our country," and added, "Through this feasibility study, we will select the optimal route and will actively cooperate with the Australian government to begin operations on the green shipping route connecting Korea and Australia from 2029."