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Maersk signs methanol deal as food firm signs up to green scheme

[ October 30, 2024   //   ]

AP Moller-Maersk (Maersk) has signed a long-term agreement with LONGi Green Energy Technology to supply bio-methanol fuel for its fleet of dual-fuel container vessels, produced at a facility in Xu Chang, Central China. The bio-methanol is produced from residues straw and fruit tree cuttings and will meet the needs of the carrier’s dual-fuel methanol fleet of which seven vessels are already in operation. Maersk says that its combined methanol offtake agreements now meet more than 50% of the dual-fuel methanol fleet demand in 2027.  

International food firm Danone is to use Maersk’s ECO Delivery Ocean service to reduce CO2e emissions of ocean containers. The product based on reduced GHG emission from fuels like bio-diesel or bio-methanol which are produced solely from waste feedstocks and used on vessels across the Maersk fleet.

Danone anticipates that it will reduce GHG emissions by more than 40% compared to conventional fossil fuels.

Maersk adds that the big challenge for green transportation is the large price gap, with green fuel costing 2-3 times as much as fossil fuels. It is calling on regulators such as the International Maritime Organisation to close this much faster by implementing a Green Balance Mechanism, for instance US$2 for every container transported using fossil fuels and supporting green fueled container transports with the funds raised.

Head of energy transition, Morten Bo Christiansen, said that the current regulatory tools in place like ETS and FuelEU Maritime would not close the gap until the mid-2030s. He said: “We should speed this up to make the green choice the new normal.”

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