Maersk, the largest shipping company in the world, has secured green methanol fuel for the maiden voyage of its first dual-fuel container ship under construction in South Korea. OCI Global, a leading supplier of green methanol, will supply Maersk with the ISCC-certified green biomethanol for the ship’s voyage via the Suez Canal to northern Europe in the summer. The vessel, currently under construction at Hyundai Mipo Dockyard, is a 2,100 TEU feeder ship, the first of nineteen carbon-neutral, green methanol-powered vessels Maersk has ordered. Once in service, the ship will operate on a Baltic Sea route between northern Europe and the Gulf of Bothnia. The other 18 vessels will be much larger, with a capacity of 16,000 and 17,000 TEU, and will be built by Hyundai Heavy Industries, due for delivery in 2024 and 2025.
OCI Global is at the forefront of green methanol development and a leader in the space, playing a key role in promoting the use of green methanol in vehicles and currently supplying up to 200,000 tonnes of the equivalent per year. As the maritime industry faces increasing pressure to accelerate its decarbonization efforts, OCI predicts a significant increase in global demand for methanol, with an estimated increase of 4 million tonnes per year over the next five years, driven by current orders from the maritime sector. Earlier this year, OCI announced a partnership with Unibarge to retrofit the first methanol fueled bunker vessel to operate in the Port of Rotterdam.
“This is another important milestone in our global leadership in supplying and trading renewable and low-carbon fuels to decarbonize energy-intensive industries,” said Ahmed El-Hoshy, CEO of OCI Global. “As the shipping industry faces increasing regulatory scrutiny, there is an urgent need to decarbonize it, and OCI is playing a critical role in helping the sector meet its environmental goals through our existing methanol capacities. This positions us well in the marine and fuels markets to benefit from the upcoming demand for ammonia fuels.”
As the global push towards reducing carbon emissions continues to ramp up, Maersk’s decarbonization efforts in the maritime industry set an example for others to follow. The company’s plans to power its vessels with green methanol fuel shows a commitment to cleaner shipping and a lower-carbon future. Given the increasing demand and regulatory pressure, a shift towards decarbonization and sustainable practices is not simply an option but a necessity, and the cooperation between Maersk and OCI Global sets a positive example of what can be achieved through strong partnerships.
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