South Korean oil refiner HD Hyundai (KRX:267250) and Danish shipping and logistics firm A.P. Moller - Maersk signed a memorandum of understanding to jointly pursue vessel decarbonisation and expand logistics cooperation.
The two firms will trial Avikus' HiNAS and HD Hyundai Marine Solution's OCEANWISE on a Maersk container ship to assess fuel savings and emissions cuts, Maersk said in a Tuesday press release.
The partnership also includes ship retrofitting for dual-fuel propulsion, cargo capacity upgrades, and joint research into solid oxide fuel cells. Additionally, HD Hyundai will expand its use of Maersk's integrated logistics services across its affiliates.
Shares of HD Hyundai rose nearly 2% in recent trade on Wednesday.
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