First Green Methanol Deal Signed by Maersk

As the major shipping firm gears up to operate the world’s first carbon-neutral ship in 2023, Maersk announced on August 18 that it had signed a contract securing green methanol.

Global shipping accounts for nearly 3% of the world’s CO2 emissions. To meet its goal of net-zero emissions by 2050, Maersk needs to have a carbon-neutral fleet by 2030.

A total of 10,000 tonnes of carbon neutral e-methanol will be produced each year for the vessel’s operation, and Maersk has just signed a deal with Denmark’s REintegrate to do so.

First year costs of the green methanol-powered engines are estimated to be around 10-15% higher, while fuel costs are expected to be double what conventional bunker fuel costs.