Maersk has entered into a commercially viable long-term supply agreement with the Chinese company Goldwind, a global leader in clean energy. The agreement covers annual volumes of 500,000 tons, facilitating low-carbon operations for the first 12 large methanol-enabled Maersk vessels currently on order. The partnership extends into the next decade, marking the first large-scale green methanol supply agreement for the global shipping industry.
“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.”
Rabab Raafat Boulos
Chief Infrastructure Officer at A.P. Moller – Maersk
A.P. Moller – Maersk aims to achieve net-zero greenhouse gas emissions by 2040 across all its business areas. The signed agreement significantly reduces risks in the initial stages of Maersk’s journey to zero emissions and supports expectations for a competitive green methanol market by 2030. The record-high volumes guarantee the annual supply of more than half the methanol-enabled capacity currently ordered by Maersk.
“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. With this project, Goldwind will continue to explore the innovative application of new technologies, pursue the organic combination of green electricity and green fuel production, and optimize the production process of green methanol. Goldwind is committed to collaborating with companies involved in the green methanol industry, with the aim to make green methanol one of the most important and economically feasible clean maritime fuels in the future.”
Wu Gang
Chairman, Goldwind
The production volumes include a mix of green bio-methanol and e-methanol, all produced using wind energy at a new facility in Hinggan League, Northeast China, approximately 1000 km northeast of Beijing. Production is expected to commence in 2026. Following this signed offtake agreement, Goldwind expects to confirm a final investment decision for the facility by the end of the year.
“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 decarbonisation of global shipping.”
Rabab Raafat Boulos
Chief Infrastructure Officer at A.P. Moller – Maersk
A.P. Moller – Maersk will take delivery of its first large ocean-going methanol-enabled vessel (16,000 TEU) in the first quarter of 2024 and is diligently working on sourcing solutions with a broad range of global partners for the entire vessel series being delivered in 2024-25.
Image source: https://www.maersk.com/news/articles/2023/11/22/maersk-signs-landmark-green-methanol-offtake-agreement