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According to a report from Copenhagen on March 11, AP Moller Maersk A/S, one of the world's largest oil consumers, has partnered with six energy companies to launch the green methanol market.
Maersk will be able to buy at least 730,000 tonnes of methanol a year by the end of 2025, the Copenhagen-based company said on Thursday
The partnership will help solve what Maersk calls the "chicken-and-egg problem" plaguing the green fuel market: few energy companies produce green methanol due to current low demand, and ship owners are reluctant to build green ships , because the fuel market is too small
Henriette Hallberg Thygesen, head of Maersk Fleet, said in a statement: "In order to transition to decarbonisation, we need to accelerate the production of green fuels significantly and in a timely manner
Maersk, the world's largest shipping company with ships, aims to be carbon neutral by 2040, including its own and indirect emissions
Maersk said it was building 12 large green container ships, and an order of 730,000 tonnes of green methanol per year would be enough to power the ships
These energy companies, with operations on every continent, provide a global network for the fuel, with production expected to accelerate after 2025
Maersk Chief Executive Soren Skou said the shipping industry could afford the transition to ships using methanol or ammonia, a transition estimated to increase shipping costs by 10%-12%
