World’s Largest Container Shipping Company Plays $ 1.4 Billion Green Bet on Methanol Ships


The container shipping company Maersk announces on Tuesday who will invest $ 1.4 billion in a greener fleet.

The Danish company has ordered eight new ships, each costing $ 175 million, which can be powered by clean methanol instead of petroleum-based fuel.

Maersk plans to receive the ships from Hyundai Heavy Industries shipyards in early 2024 and has an option for four more the following year, making it the first container shipping company to order large carbon neutral vessels capable of sailing from China to Europe and across the Pacific. .

“This is a strong signal to fuel producers that market demand for the green fuels of the future is emerging at high speed,” said Soren Skou, CEO of Maersk. More than half of the company’s top 200 customers have set zero carbon or science-based targets for their supply chains or are in the process of doing so, the statement said.

In February, the company said all newly-built ships it owns could use carbon-neutral fuels. He also announced that by 2023 it will have a small container ship that can run on clean versions of methanol and can carry 16,000 containers.

Ecological transition in the sector

Maritime transport represents almost the 3% of carbon dioxide emissions of human origin, which continue to increase, according to data from the International Maritime Organization. Last year, the agency’s regulations came into force aimed at curbing air pollution by limiting the sulfur content of marine fuels, which has had a clear influence on the industry.

Other shipping companies have also started to switch to a greener variant. The shipowner Euronav NV has commissioned new vessels capable of running on ammonia and liquefied natural gas. In addition, commodity trader Cargill Inc. has said it plans to add “wing sails” to part of its fleet, Bloomberg informs.

Disclaimer: This article is generated from the feed and is not edited by our team.

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