Maersk running on methanol
The obligation to reduce the emissions of cargo vessels continues to influence the shipping industry. The next row of vessels to be built by Hyundai Heavy Industries (HHI) for Maersk with a nominal capacity of approx. 16,000 teu each have a specific feature.
All eight newbuilds, to be delivered in Q1/2024, will run "on carbon neutral methanol", as the carrier said in a press release. Nevertheless, the vessels come with a dual fuel engine setup.
The agreement with HHI includes an option for four additional vessels in 2025. Besides replacing older vessels, about 1 million t of CO2 emissions will be saved on a yearly basis.
Maersk is under pressure from the big brands among its customers who are striving for zero carbon targets for their supply chains. The liner mentioned "Amazon, Disney, H&M Group, HP Inc., Levi Strauss & Co., Microsoft, Novo Nordisk, The Procter and Gamble Company, Puma, Schneider Electric, Signify, Syngenta and Unilever."
The new technology not for free. Additional capital expenditure (Capex) for dual fuel capability, which enables operation on methanol as well as conventional low sulphur fuel, will be in the range of 10-15% of the total price of approx. USD 7 billion. In total, Maersk plans to maintain a fleet capacity of around 4.0 to 4.3 million teu, as a combination of owned and time-chartered vessels. (cd)