Carbon Capture, Energy Efficiency Technologies and Emerging Market Trends Lead the Discussion at the ABS Korea National Committee

Photo Caption: Group photo of the 2024 ABS Korea National Committee Meeting

(SEOUL) ABS shared the latest insights on sustainability, technology, regulations and market trends with maritime leaders from around the country at the annual ABS Korea National Committee Meeting.

Committee members heard from ABS President and COO John McDonald who reported that ABS has secured the number one position in global orderbook share and grown the fleet to 297 million gross tons, with more than 11,500 assets.

Seong-Hun Kim, ABS Director, Business Development, briefed the committee on major market trends including the energy transition and emerging markets. He also provided an update on ABS activities in Korea. Among the highlights were 90 completed joint development projects with Korean stakeholders since 2022 in the fields of clean energy transportation, digitalization and applied research.

Stamatis Fradelos, ABS Vice President, Regulatory Affairs, presented information on the latest developments in the dynamic regulatory environment, including an in-depth analysis of FuelEU regulations which take effect January 1, 2025.

Sung Ick Kim, President and CEO for SK Shipping, opened the event emphasizing the importance of digitalization and decarbonization in the industry and expressed his gratitude for the contributions and achievements from ABS in these initiatives. 

The committee meetings are a forum for ABS members, including owners, operators, charterers, and industry representatives from flag Administrations, owner associations, and the shipbuilding and insurance sectors, to come together with ABS leaders and discuss safety and other industry issues and developments. These forums are an important part of an ongoing dialogue with the industry to address technical, operational and regulatory challenges.

Tags: