View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
October 12, 2022

Moller-Maersk furthers green shipping commitment with new vessels

A.P. Moller-Maersk has furthered its commitment to sustainable shipping with the purchase of another six large ocean-going vessels that can sail on green methanol.

By Michelle Russell

The six vessels will be built by Hyundai Heavy Industries (HHI) and have a nominal capacity of approximately 17,000 containers (Twenty Foot Equivalent – TEU). They will replace existing capacity in the Moller-Maersk fleet.

Moller-Maersk has set a net-zero emissions target for 2040 across the entire business and has also set tangible near-term targets for 2030 to ensure significant progress. This includes a 50% reduction in emissions per transported container in the Maersk Ocean fleet compared to 2020 and a principle of only ordering newbuilt vessels that can be operated on green fuels.

With the order, Moller-Maersk has in total ordered 19 vessels with dual-fuel engines able to operate on green methanol.

Benchmarked against conventional fuel capabilities, additional capital expenditure (CAPEX) for the methanol dual-fuel capability is in the range of 8-12%, which is an improvement compared to when Maersk ordered eight vessels with the same technology last year.

The six 17,000 TEU vessels are all to be delivered in 2025 and will sail under the flag of Denmark. They all come as part of Maersk’s ongoing fleet renewal programme and their capacity will replace an equal amount of capacity reaching end-of-life and leaving the Moller-Maersk managed fleet.

When all 19 vessels on order are deployed and have replaced older vessels, they will generate annual CO2 emissions savings of around 2.3 million tonnes.

Maersk has further reiterated its strategy of maintaining a fleet capacity at a maximum of 4.3 million TEU, as a combination of Maersk managed and time-chartered vessels.

“Our customers are looking to us to decarbonise their supply chains, and these six vessels able to operate on green methanol will further accelerate the efforts to offer our customers climate neutral transport. Global action is needed in this decade in order to meet the Paris Agreement’s goal of limiting global warming to a 1.5°C temperature rise,” said Henriette Hallberg Thygesen, CEO of fleet & strategic brands at Maersk.

Palle Laursen, chief fleet & technical officer at Maersk, added: “Green methanol is the best scalable green fuel solution for this decade, and we are excited to see several other shipowners choosing this path. It adds further momentum to the rapid scaling of availability needed to bring down the premium on green methanol and accelerate the evolution of climate neutral shipping.”

Earlier this month, Maersk joined other international companies in committing to transition its fleet of vehicles to zero emission by 2040 in OECD markets, China and India.

Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Style