- The major container shipping company Maersk recently issued its financial performance results for 2020.
- Maersk highlights that despite the low volumes due to COVID-19, the company left 2020 with a strong balance sheet and plenty of firepower.
- The container major is working to find out what is the best fuel for the industry’s future.
- Maersk revealed that the alternative fuels based on alcohols (methanol and ethanol), bio-methane, and ammonia will be the basic principles of a combustion engine.
A recent article published in the Safety4Sea reveals that Maersk is use either Ammonia or Methanol as future fuel.
Maersk CEO, Søren Skou
“We have to replace our tonnage, every day our older fleet gets older, and there will be some replacement work, but you should not expect anything dramatic” he added.
Capex guidance and fuel technology
In terms of Capex guidance and fuel technology, Maersk is still working on figuring out what is the best fuel for us for the future.
But, the alternatives that Maersk is looking at are fuels like alcohols, ammonia and so on.
These can be used on a combustion engine.
So, that means that Maersk end up finding exactly the right solution there then would be a big retrofit opportunity.
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Source: Safety4Sea
