Maersk Secures Fuel For 1st Methanol Container Ship’s Inaugural Journey

Denmark’s Maersk MAERSKb.CO declared on Monday that it successfully secured fuel for the first-ever container vessel able to operate on carbon-neutral methanol on its inaugural journey to Denmark from South Korea.

The 21,500 km summer journey to Copenhagen from Ulsan will be equipped with bio-methanol fuel from biogas generated from decomposing organic landfill wastes.

This will be delivered from a US plant by a Dutch firm named OCI Global.

Morten Bo Christiansen, the Head of Energy Transition associated with Maersk, said that the green methanol market is in its infancy, and the firm had not expected to be capable of securing a maiden journey on green methanol for the vessel.

Maersk has reportedly ordered 19 methanol-enabled ships to satisfy the goal of transporting about 25% of ocean cargo with the help of green fuels by 2030. Overall the Danish shipping major aims to meet its net zero greenhouse gas emissions target by 2040.

Christiansen added that the firm expects a diverse green fuel mix for the future, with exclusive green bio-methanol produced from biomass waste available now.

Sourcing greener fuels is one of the key challenges to achieving targets, and Maersk has forged multiple collaborations with suppliers and ports to maintain a stable supply.

For instance, it has agreed to purchase half of the capacity at a plant producing e-methanol from advanced sustainable energy in Denmark and collaborate with the port of Shanghai on green methanol fuel (marine).

References: Reuters, XM, MarketScreener

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Source: Maritime Shipping News