Shipping and logistics group A.P. Moller-Maersk (Maersk) and Shanghai International Port Group (SIPG) have inked a memorandum of understanding (MoU) to cooperate on Shanghai Port’s methanol marine fuel project.
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Why does it matter?
The two parties will collaborate on exploring green methanol fuel vessel-to-vessel bunkering operation after Maersk’s green methanol container vessels are delivered in 2024.
In the first phase, SIPG, will provide vessel-to-vessel bunkering services and manage fuel tank storage at the port as part of its role as Maersk’s potential energy bunkering service provider.
In the potential second stage, the parties will explore the possibility of establishing a comprehensive energy strategic partnership to expand their focus from bunkering services to the upstream activities of the eco-friendly methanol industry chain.
The significance of the collaboration
Maersk has committed to achieving net-zero emissions across all its operations by 2040. As part of this effort, the company is using 19 vessels equipped with dual-fuel engines capable of running on eco-friendly methanol, which is expected to expedite the transition towards environmentally sustainable shipping.
Vincent Clerc, CEO of A.P. Moller-Maersk contended that 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.”
The partnership will aid Shanghai Port in its efforts to become one of the world’s first commercial green methanol refueling hubs and a prominent center for eco-friendly methanol fuel bunkering in the region.
According to Gu Jinshan, Chairman of Shanghai International Port Group, the implementation of the green fuel bunkering service will serve as another important achievement for SIPG in its transformation towards becoming a low-carbon and eco-friendly energy hub in the Asia Pacific region, as the demand for sustainable fuels continues to rise.
