MARITIME

Maersk Enters an Agreement for Procuring 500,000 Tones of Green Methanol Annually

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Nov 23, 2023 at 08:02 in General by Raghib Raza

MAERSK

The Danish shipping giant Maersk has announced the signing of its largest green methanol offtake agreement to date. Maersk is investing in green fuels to reach its goal of reaching net zero emissions by 2040.

This agreement is established with Chinese developer Goldwind and is aimed at fueling Maersk’s initial 12 large methanol-ready vessels. Goldwind is set to supply Maersk with 500,000 tonnes of green methanol annually, with initial deliveries anticipated in 2026.

The fuel provided under this partnership will comprise a combination of green bio-methanol and e-methanol, both produced using wind energy at a new production facility located in Hinggan League, Northeast China. The facility is scheduled to commence operations in 2026.

Maersk projects that the incoming volumes of green methanol from this agreement will be sufficient to power over half of the methanol-enabled ships currently on order.

Earlier this summer, Maersk took delivery of its first green methanol-fueled vessel, the 2100 TEU “Laura Maersk”. Moreover, the company has 24 new green methanol-fueled ships on order. This fleet comprises twelve 16,000 TEU vessels and six 17,000 TEU vessels being constructed by Hyundai Heavy Industries with deliveries slated for 2024 and 2025, and an additional six 9,000 TEU vessels ordered at Yangzijiang Shipbuilding in China, planned for delivery in 2026 and 2027.

SOURCE: BBC