Copenhagen, Denmark – A.P. Moller - Maersk (Maersk) and Equinor have signed an agreement securing supply of green methanol for Maersk’s landmark, new methanol-enabled feeder vessel during its initial months of operation from September 2023 and into the first half of 2024.
The agreement ensures green methanol supply for the ship from its entry into operation on a loop from Northern Europe into the Baltic Sea after the name giving ceremony later this month in Copenhagen. The green methanol will be bunkered in Rotterdam.
Equinor is pleased to be partnering up with Maersk in delivering greener fuels to the marine industry. Equinor is an established player in the European methanol market through its production plant at Tjeldbergodden and we have ambitions to be a key provider of green methanol in the marine fuel segment.
We are very pleased to partner with Equinor, as it’s entering this business area. It is critical to get energy majors to the table and start supplying future fuels at scale. This is the form of engagement we need to continue accelerating the pioneering journey towards a green fuel economy for global shipping. With more than 100 methanol enabled vessels on order across the industry, the demand for green fuel production is rising and will continue to do so in the years to come.
1Maersk defines ’green fuels’ as fuels with low to very low GHG emissions over their life cycle compared to fossil fuels. Different green fuels achieve different life cycle reductions depending on their production pathway. By 'low' we refer to fuels with 65-80% life cycle GHG reductions compared to fossil fuels. ‘Very low’ refers to fuels with 80-95% life cycle GHG reductions compared to fossil fuels.
Long term, the feeder vessel will be fueled by e-methanol from a plant in Southern Denmark, operated by European Energy, which is expected to come on-stream in the first half of 2024.
Maersk has an ambitious 2040 target of net zero greenhouse gas emissions and aims to transport a minimum of 25% of Ocean cargo using green fuels by 2030. The 2,100 TEU (twenty-foot-equivalent) feeder vessel is an important step toward the long-term objective of gradually renewing the entire Maersk fleet to operate solely on green fuels. Maersk has 24 additional methanol vessels on order for delivery between 2024 and 2027 and has a policy to only order new, owned vessels that comes with a green fuel option.
For a more detailed status on the Maersk green fuel journey, see the latest episode of our Decarbonisation webinar series.
A.P. Moller - Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global leader in logistics services, the company operates in more than 130 countries and employs over 100,000 people. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels.
Equinor is a broad international energy company headquartered in Norway with 22,000 employees in 30 countries. For 50 years, the company has turned natural resources into energy for people and progress for society. The ambition is to a leading company in the energy transition, breaking new ground, creating value and supplying society with energy while achieving net zero by 2050.
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