Maersk signs MoU with Shanghai Port Group Methanol Bunkering

Maersk signs MoU with Shanghai Port Group Methanol Bunkering
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AP Moller-Maersk (Maersk) announced today that it has signed a memorandum of understanding (MOU) with Shanghai International Port Group (SIPG) for strategic cooperation on the Shanghai Port methanol marine fuel project. The two parties will join forces to study ship-to-ship bunkering of green methanol after Maersk’s green methanol container ships are delivered in 2024.

Maersk has set a company-wide net-zero emissions target for 2040, and the delivery and operation of its 19 ships with dual-fuel engines capable of running on green methanol will accelerate the development of carbon-neutral shipping. Therefore, building a bunkering infrastructure for methanol in the port is essential and crucial to achieve this goal.

Working with ports around the world to build green fuel bunkering infrastructure is required for methanol ship maintenance. This is an important step as Maersk aims to lead the decarbonization of end-to-end supply chains and make a meaningful contribution to the environment this decade. We are very excited to partner with SIPG and leverage their strong bunkering and port operations capabilities. Through joint efforts, we can provide our customers with low-carbon logistics service and also contribute to China’s promise to be carbon neutral by 2060. At the same time, we also strive to cultivate synergies with SIPG and fuel manufacturers to optimize fuel infrastructure efficiency.

Vincent Clerc, CEO of AP Moller-Maersk

As SIPG, the main operator of the world’s busiest container port, also commits to becoming a leader in the development of green and ecological ports, the agreement will also support the Port of Shanghai’s ambition to become one of the world’s first commercial green methanol fueling stations are used as a regional bunker center for green methanol fuel.
We are excited to partner with Maersk to support its mission to decarbonize the shipping industry. As the demand for sustainable fuels increases, the establishment of the green fuel bunkering service will be another milestone for SIPG, improving port services and boosting the competitiveness of the port of Shanghai to transform the company into a low-carbon and green energy hub in the Asia-Pacific Space. SIPG will continue to work with shipping companies to promote the Shanghai Shipping Hub Gateway and the green, low-carbon transformation of Shanghai’s shipping industry.

Gu Jinshan, Chairman of Shanghai International Port Group

Maersk and SIPG will gradually deepen the cooperation. In the first phase, SIPG will provide ship-to-ship bunkering and port fuel tank storage services as a potential energy bunkering service provider to Maersk. In the potential second phase, the parties will explore how to form a comprehensive strategic energy partnership to promote the expansion of bunkering services to the upstream green methanol industry chain.

About Maersk

AP Moller – Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global logistics leader, the company operates in more than 130 countries and employs over 100,000 people worldwide. Maersk aims to achieve net-zero emissions across the business by 2040 with new technologies, new ships and green fuels.

About Shanghai International Port Group

Shanghai International Port (Group) Co., Ltd. (SIPG), the public terminal operator at the Port of Shanghai, is a large specialized conglomerate formed in January 2003 through the restructuring of the Shanghai Port Authority. It became a public company in June 2005 and was listed on the Shanghai Stock Exchange on October 26, 2006, becoming the first of its kind to go public in China. SIPG is currently the largest listed port operations company in mainland China and one of the largest in the world. SIPG’s main business areas include port handling operations, integrated logistics service, port-related services and port investment business. An industrial chain of port logistics, including stevedoring, warehousing, shipping, land transport and agent service, has been established.

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Source: News Network

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