The carrier Maersk Murcia is anchored in the Swedish port of Gothenburg on 24 August 2020.
JONATHAN NACKSTRAND | AFP | Getty Images
The giant Maersk said Wednesday it would launch a carbon-neutral vessel by 2023, seven years ahead of schedule, while trying to reduce environmental footprint and hit a target of carbon dioxide (CO2) emissions by 2050.
According to the Danish company, the world’s largest shipping company, the vessel will be powered by carbon-neutral or bio-methanol stable e-methanol, although it will still be able to run on fuel oil very low sulfur (VLSFO)) if required.
Simply put, “carbon neutral” means that CO2 emissions are balanced by the same amount of CO2 removal. If something is carbon negative, it means that more CO2 is taken out of the atmosphere than it is emitted.
Looking ahead, all new Maersk-owned vessels will be able to run on carbon-neutral fuels, with the company saying it will install “dual-fuel engines on new buildings in the future.” The word “new build” refers to a boat that has recently been built or is under construction.
The environmental footprint of shipping is important. According to the International Energy Agency, in 2019 international shipping – a critical war in the world economy – accounted for about 2% of “global energy-related CO2 emissions.”
Speaking to CNBC’s “Street Signs Europe” on Wednesday morning, Maersk’s head of decarbonization explained how a number of things had “gone the right way” when it came to accelerating the ship’s development with methanol fuel.
“We’ve learned a lot as a company about the opportunities that exist, technology has evolved,” said Morten Bo Christiansen.
“And, last but not least, it is clear that our customers expect this from us, they need to support us in disarming their supply chains.”
Asked how his company would find enough carbon-fueled fuel to meet its future needs, Christiansen said it was “a chicken and egg situation.”
“There are a lot of projects on the design board but not many people are willing to accept it,” he said. “With this, we are trying to state that we want to launch this member, we are to begin to produce these fuels and place them on the market so that the market can scale. “
Maersk explained that he had been in contact with a number of partners regarding this issue, although he was not yet ready to state who he was dealing with.
“But definitely … here’s the big challenge: getting an adequate supply of carbon-right fuel,” he said.
Christiansen went on to say that Maersk customers would “get access to a product that represents a concept that is properly scalable.”
“It also means they get a sense of the extra cost this will add,” he said.
Noting that while the company was still unsure of price points, Christiansen said: “What we do know is that when we look at end-user products, so a pair of sneakers or a flat-screen TV, then… the effect these results would be measured in cents rather than dollars. “
“So, from that perspective, it would be like something that is inclusive, and hopefully the scale of our customers’ supply chains will be scaled.”