Maersk enters agreements to boost green methanol output
Shipping line Maersk is forming partnerships with six companies to boost global capacity of green methanol and source at least 730,000 t/yr of the fuel by the end of 2025.
The six partners include Hong Kong-based CIMC ENRIC, Chinese Green Technology Bank (GTB), renewable energy company European Energy, Danish utility Orsted, methanol producer Proman and US-based methanol producer WasteFuel.
CIMC ENRIC will develop biomethanol projects for Maersk in China, with the first phase of the project scheduled to produce 50,000 t/yr of biomethanol from 2024 and the second phase expected to produce 200,000 t/yr with the start date to be determined. The fuel will be produced from agricultural residues and Maersk said it intends to offtake the full volume produced.
GTB will also facilitate the development of biomethanol projects in China, with the first planned to produce 50,000 t/yr from 2024 and the second planned to have a capacity to produce 300,000 t/yr at a start date to be determined.
WasteFuel is developing a biomethanol project in South America that will produce over 30,000 t/yr starting in 2024, with Maersk planning to offtake the full volume produced.
And Proman will supply Maersk with 100,000-150,000 t/yr of green methanol form its development facility in North America. The project will be built by Proman with a target start of operations in 2025, producing biomethanol from non-recyclable forestry residues and municipal solid waste.
European Energy will develop e-methanol projects in Latin America and the US and will have a capacity to produce up to 200,000-300,000 t/yr of the fuel starting in 2025-26. Orsted will also develop an e-methanol project in the US that will have capacity to produce 300,000 t/yr from 2025. Maersk intends to offtake the full volume produced by both companies. E-methanol is produced by combining renewable hydrogen from electrolysis with CO2 captured from industrial processes.
"With this production capacity, by the end of 2025 at the latest, Maersk will reach well beyond the green methanol needed for the first 12 green container vessels currently on order," the company said.
Maersk last year ordered the first methanol-fuelled container ship for delivery in mid-2023 and eight larger methanol-fuelled container ships for delivery in 2024.
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Norwegian Cruise swings to 1Q profit
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Larger EU H2 bank auction could still clear below €1/kg
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