PHOTO
Shipping and logistics group A.P. Moller-Maersk (Maersk) has signed a memorandum of understanding (MoU) with Shanghai International Port Group (SIPG) to cooperate on Shanghai Port’s methanol marine fuel project.
The two parties will explore green methanol fuel vessel-to-vessel bunkering operation after Maersk’s green methanol container vessels are delivered in 2024, Maersk said in a statement.
In the first phase, SIPG, as Maersk’s potential energy bunkering service provider, will carry out services of vessel-to-vessel bunkering and fuel tank storage at the port.
In the potential second stage, the parties will explore forming an all-around energy strategic partnership to promote the extension from bunkering services to the upstream of the green methanol industry chain.
Maersk has set a net-zero emissions target for 2040 across the entire business. The delivery and operation of its 19 vessels with dual-fuel engines able to operate on green methanol, accelerating the evolution of climate-neutral shipping.
“Collaborating with ports globally to build green fuel bunkering infrastructures is necessary to service methanol vessels. It is an important step as Maersk strives to lead the decarbonisation of end-to-end supply chains and make a meaningful environmental impact in this decade,” said Vincent Clerc, CEO of A.P. Moller-Maersk
The agreement will also support Shanghai Port in becoming one of the world’s first commercial green methanol refuelling points and a regional green methanol fuel bunkering centre.
As the demand for sustainable fuels increase, establishing the green fuel bunkering service will be another milestone for SIPG to transform the company into a low-carbon and eco-friendly energy hub in Asia Pacific, said Gu Jinshan, Chairman, Shanghai International Port Group.
(Writing by P Deol; Editing by Anoop Menon)
