A.P. Moller – Maersk, has inked a historic offtake agreement with Chinese clean energy, Goldwind, signaling a leap forward in the maritime industry’s quest for sustainable practices. This groundbreaking deal not only propels Maersk towards its net-zero emissions goal by 2040 but also positions it as a trailblazer in adopting green methanol, a key player in the low-emission shipping landscape.
“This deal is a milestone for Maersk as it enables us to significantly reduce our emissions footprint in this decade and stay aligned with the 1.5-degree Celsius trajectory as set out in the Paris Agreement, ensuring continued supply of low carbon shipping services to our customers in the second half of this decade,” says Rabab Raafat Boulos, Chief Infrastructure Officer at A.P. Moller – Maersk.
A Decade-Long Commitment to Low-Carbon Operations
A.P. Moller – Maersk has set ambitious goals to achieve net-zero greenhouse gas emissions by 2040 across its business. The recently signed offtake agreement with Goldwind not only accelerates this journey but also de-risks the initial stages, fostering a competitive green methanol market by 2030. The annual volume covered by the agreement can power over half of Maersk’s methanol-enabled capacity currently on order, setting the stage for a substantial impact on emissions reduction.
Goldwind’s Pledge to Green Transition
Wu Gang, Chairman of Goldwind, expressed enthusiasm about the partnership, stating, “Goldwind respects Maersk as a pioneer in the field of maritime green fuel, and we are excited to jointly promote the green transition with Maersk.” Goldwind, committed to collaboration within the green methanol industry, aims to make green methanol a pivotal and economically feasible clean maritime fuel in the future.
The Mix: Green Bio-Methanol and E-Methanol Powered by Wind Energy
The volumes covered in the agreement will consist of a blend of green bio-methanol and e-methanol, produced using wind energy at a state-of-the-art facility in Hinggan League, Northeast China. The facility, set to begin production in 2026, is approximately 1000 km northeast of Beijing. Goldwind anticipates finalizing the investment decision for the facility by the end of the year, underlining the commitment to expeditiously advancing sustainable energy solutions.
Maersk’s Ongoing Endeavor
A.P. Moller – Maersk is on track to receive its first large ocean-going methanol-enabled vessel (16,000 TEU) in the first quarter of 2024. The company is actively engaged in sourcing solutions with global partners for the entire vessel series slated for delivery in 2024-25.
Rabab Raafat Boulos concludes, “We are encouraged by the agreement because its scale and price confirm our view that green methanol currently is the most viable low-emission solution for ocean shipping that can make a significant impact in this decade. The deal is a testament to the momentum and vast efforts we see among ambitious developers driving projects forward across geographies. However, we still have a long way to go in ensuring a global green fuels market that can enable the decarbonization of global shipping.”
This groundbreaking partnership between Maersk and Goldwind signifies a pivotal moment in the maritime industry’s shift towards sustainable and low-emission operations. As they navigate uncharted waters, both companies are setting sail towards a future where green methanol plays a crucial role in shaping the environmental footprint of global shipping.
