Building of Korea-Australia Green Shipping Route to Begin in Full Swing

- Preliminary feasibility study to be conducted for establishing a green shipping route by the first half of next year

 The Ministry of Oceans and Fisheries (MOF; Minister Kang Do-hyung) announced that it would be conducting a preliminary feasibility study for building a Korea-Australia green shipping route* in cooperation with the Australian Department of Infrastructure, Transport, Regional Development, Communications, Sport and the Arts.

 * A route to be operated without carbon emissions throughout the entire logistics transport process between two or more ports by utilizing low/zero carbon fuel and eco-friendly technology

 Through a preliminary feasibility study including ▲ analysis of the eco-friendly fuel supply chain, ▲ survey of export/import cargo and demand trends by port, ▲ study of port infrastructure system for fuel supply, and ▲ evaluation of types of ships suitable for operation between the two countries, Korea and Australia plan to examine closely the key tasks for selecting green shipping routes.

 The preliminary feasibility study is the first step in the follow-up to the signing of the Memorandum of Understanding (MOU) on cooperation in building a green shipping route between Korea and Australia in February. The two countries have been working together to prepare a plan for a preliminary feasibility study; with the confirmation of private-sector companies and research institutes wishing to participate, the study is scheduled to proceed until the first half of next year.

 Afterward, a roadmap for building green shipping routes will be established through the feasibility study on the economy, technology, and system for the routes selected based on the result of the preliminary feasibility study to accelerate preparations for operating eco-friendly ships.

 “Australia is a country that can stably supply Korea with clean energy including fuel for shipping. This preliminary feasibility study is an opportunity for us to cooperate with the Australian government in selecting the optimal route and commencing operation of a green shipping route connecting Korea and Australia from 2029,” Minister Kang Do-hyung said.