Maersk is contemplating a shift towards using more ethanol as a fuel to reduce carbon emissions and lessen reliance on China for green fuels. The company’s CEO, Vincent Clerc, mentioned in an interview with the Financial Times that they are exploring ethanol due to its more evenly distributed production globally. While China dominates the market for green methanol, the United States and Brazil are the top ethanol producers worldwide.
Clerc emphasized the importance of a balanced supply of green fuels to garner broader global support for the energy transition. He highlighted that concentrating green fuel benefits in one country might face resistance from others, but spreading economic opportunities across multiple nations could boost decarbonization efforts. The global shipping industry encounters significant challenges in emission reduction, necessitating costly upgrades to existing vessels or the construction of new ships capable of running on alternative fuels like e-fuels derived from renewable sources.
Maersk has been at the forefront of advocating for cleaner shipping solutions and has heavily invested in methanol-powered vessels as part of its commitment to achieving net-zero emissions by 2040. Additionally, the company is diversifying beyond traditional container shipping into comprehensive logistics services encompassing ports, warehousing, trucking, and air freight. In a similar vein, other shipping firms are also taking steps to curb emissions, with Hapag-Lloyd and North Sea Container Line securing a tender to utilize low-emission hydrogen-derived fuels on container ships from 2027 onwards for a minimum of three years, aiming to significantly slash carbon dioxide emissions from their shipping operations.
