Maersk Inks MOU With Shanghai International Port Group On Strategic Cooperation

Credits: Cytonn Photography/ Unsplash

A.P. Moller-Maersk (Maersk) announced today that the company has signed a Memorandum of Understanding (MOU) with Shanghai International Port Group (SIPG) on strategic cooperation for the Shanghai Port methanol marine fuel project. 

Net Zero Target

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 will accelerate the evolution of climate-neutral shipping. Therefore, establishing port bunkering infrastructure for methanol is critical to achieving this goal. “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 Mr Vincent Clerc, CEO of A.P. Moller-Maersk.

As SIPG, the main operator of the world’s busiest container port, also commits to becoming a leader in developing green and ecological ports, the agreement will also support the aspiration of Shanghai Port to become one of the world’s first commercial green methanol refueling points, and as a regional green methanol fuel bunkering center.

Enhancing Competitiveness 

“We are happy to collaborate with Maersk to support its mission to decarbonise the shipping industry. As the demand for sustainable fuels increases, establishing the green fuel bunkering service will be another milestone for SIPG, improving port services and enhancing the competitiveness of Shanghai Port..”  said Mr Gu Jinshan, Shanghai International Port Group Chairman.Maersk and SIPG will deepen cooperation in stages. 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 a comprehensive energy strategic partnership to promote the extension from bunkering services to the upstream of the green methanol industry chain.

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Source: Logisticsmanager