Maersk eyes more methanol from China

A.P. Moller – Maersk has penned 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 Danish shipping giant purchase 200,000 tons of green methanol annually from the Chinese company, with plans to launch commercial production in September 2024.

The deal follows Maersk’s partnership with China’s CIMC ENRIC and Green Technology Bank, along with Denmark-based Ørsted 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 tons 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 tons per annum.

Source: Splash247

To read the full original article, please go to: https://splash247.com/maersk-eyes-more-methanol-from-china/

Sharing is caring!