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Maersk signs deal for more methanol from China

DANISH shipping giant AP Moller-Maersk has inked an agreement with Debo Energy in China for the supply of green methanol as fuel for its containerships under construction in South Korea.

The letter of intent with Debo would see the shipping giant purchase 200,000 tonnes of green methanol annually from the Chinese company, with plans to launch commercial production in September 2024, reports Singapore's Splash 247.

The deal follows Maersk's partnership with China's CIMC ENRIC and Green Technology Bank, along with Denmark-based Orsted and European Energy, WasteFuel in the US, and Swiss-based methanol producer Proman, to scale up green methanol production with the intent of sourcing at least 730,000 tonnes of fuel per year by the end of 2025.

In January this year, Maersk pledged to reach net zero emission targets by 2040 across its entire business, including scopes 1, 2 and 3. The carrier has twelve 16,000 TEU dual-fuelled container vessels able to operate on carbon neutral methanol under construction at Hyundai Heavy Industries (HHI) for delivery in 2024 and 2025.

Maersk is also working with five other companies to establish Asia's first green e-methanol plant, which converts captured biogenic carbon dioxide (CO2) into green e-methanol. The pilot plant will be set up in Singapore pending the successful conclusion of feasibility studies by the end of 2022 with a minimum production capacity of 50,000 tonnes per annum.

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Maersk signs deal for more methanol from China
Maersk signs deal for more methanol from China


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