Maersk signs green methanol deal with Spanish Government

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 the company makes significant progress toward its goals. The interim targets include a 50% reduction in emissions per transported container in the Maersk Ocean fleet compared with 2020 and a principle of only ordering newbuilt vessels that can be operated on green fuels.

Since announcing a contract to build at least a dozen box ships capable of running on green methanol – an order the company has since increased to nearly 20 vessels – Maersk has undertaken a drive to secure quantities of the fuel through investment and partnerships with companies and governments around the world.

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In spite of the company working to establish seven "strategic partnerships" around supply of green methanol, Maersk still lists fuel availability, supply levels and price as primary challenges for its plans to decarbonise.

"The availability of green energy and fuels in sufficient quantities and at cost-competitive price levels remains the main challenge for the decarbonisation of global shipping. Maersk alone needs approximately 6M tonnes of green methanol per year to reach its 2030 milestone fleet emissions target and even larger amounts by 2040 for its fleet to reach net zero," Maersk said.

Maersk has calculated that the 19 vessels capable of running on green methanol that are scheduled to be in operation between 2023-2025 will require approximately 750,000 tonnes of green methanol.

"We are living in a climate emergency, and we need to rapidly accelerate the availability of green future fuels. We are very pleased to explore green fuel opportunities with the Spanish Government, as the country holds key characteristics to help solve this challenge with its great hydrogen ambitions and aspiring sustainability goals. At the same time, Spain encompasses significant renewable resources and is placed along key shipping routes," Maersk chief executive Soren Skou said.

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