Shipping giant Maersk has signed an agreement with Swiss-based methanol and fertiliser company Proman which will see the development of green methanol for Maersk's new container vessels.
Credit: Maersk
Credit: Maersk
Under the deal, Proman is to supply Maersk with 100,000 to 150,000 tonnes of green methanol per year from its new 200,000 tonnes per year methanol facility, currently under development in Texas. The facility is scheduled to be up and running in 2025 and will produce bio-methanol from non-recyclable forestry residues as well as municipal waste.
Read more: Full decarbonisation of international shipping is doable, says Coalition
The two companies will also collaborate on the development of further global projects that will produce and deliver green methanol to Maersk's ships. The aim is to optimise supply of the fuel at the shipping giant's key bunkering points and drive forward sustainability in the shipping and maritime sector.
Proman said it was also looking at and evaluating multiple potential future bio- and e-methanol projects in the UK, mainland Europe and South America. These possible future projects would form part of a longer-term green methanol supply strategy for Maersk and the shipping sector more broadly.
Proman CEO David Cassidy said: "Maersk’s industry-leading commitment to green methanol is fully aligned with Proman’s belief that methanol should be a key part of the energy transition. Methanol-powered vessels are already in use today, with a proven track record of reducing and even eliminating major emissions like particulate matter and sulphur oxides.
"We are excited to bring our deep industry experience to help deliver on Maersk’s bold ambitions, working together to deliver green methanol and clean shipping at a global scale."
Henriette Hallberg Thygesen, the CEO of Fleet & Strategic Brands at Maersk, said: "To transition towards decarbonisation, we need a significant and timely acceleration in the production of green fuels. Green methanol is the only market-ready and scalable available solution today for shipping.
"Production must be increased through collaboration across the ecosystem and around the world. That is why these partnerships mark an important milestone to get the transition to green energy underway."
Key challenges remain in securing competitively priced green methanol globally, however. In order to help decarbonise the global shipping industry, which has been calling for further legislative action that it says is necessary to help level the playing field and incentivise the adoption of lower-emission fuels.
Read more: On the crest of a green wave – Decarbonising the maritime sector
Proman has also called for more consistent and transparent emissions calculations and accounting standards, which it says will be critical to allow like-for-like comparisons between future fuels.
It is widely believed in the sector that methanol is one of the most viable fuels for meeting the challenges associated with decarbonising the maritime sector.
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