Sign in
Green fuel could account for a fifth of Maersk’s total marine fuel consumption by 2030 as it tries to reach its net zero goals by 2040, depending on the company’s energy efficiency measures and performance, Emma Mazhari VP and Head of energy markets told Reuters last Thursday. The shipping giant usually consumes between 10-11 mn metric tons of fuel oil per year, 3% of which were alternative fuels in 2023, she added. “We would probably look at 15% to 20% green fuel or renewable fuel in 2030,” Mazhari said.
What type of alternative fuels is Maersk eyeing? “It’s going to be biodiesel. Green methanol is going to feature very heavily, and bio-methane as well,” Mazhari said, explaining that bio-methane production — which can be used as fuel in ships that use LNG — is growing in Europe and North America.
(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)
REMEMBER- Maersk inked a long-term bio-methanol offtake agreement with China’s Longi Green Energy Tech as it looks to secure methanol for its growing dual-fuel methanol fleet, with full production forecasted by 2030.
ON A RELATED TOPIC- Hapag-Lloyd inked an agreement with China-based clean energy firm Goldwind for the delivery of 250k tonnes of green methanol annually, according to a statement published on Thursday. Under the agreement, Goldwind will provide bio- and e-methanol products, which is slated to cut down greenhouse gas (GHG) emissions by at least 70%. The order’s volume is expected to slash 400k tonnes of carbon emissions in fleet operations annually. The move is in line with Hapag-Lloyd’s goal to drop its fleet’s absolute GHG emissions by around one third in comparison to its 2022 rates by 2030.
DB Cargo gets a lifeline from the EC: German rail freight operator DB Cargo, a subsidiary of Deutsche Bahn, has received approval from The European Commission (EC) for EUR 1.9 bn (USD 2 bn) in state aid to carry out a restructuring plan by 4Q 2026, Reuters reported on Friday.
Why is this important? The EU opened an investigation in 2022, after a competitor of DB Cargo raised concerns about potential market distortions, according to the newswire. The investigation focused on “a profit and loss transfer agreement between Deutsche Bahn AG and DB Cargo, intra-group services, group financing conditions of loans, and the partial coverage by the German Federal Railway Fund of remuneration for civil servants,” the newswire writes. The agreement will be no longer viable starting 1 January 2025.
ICYMI- Deutsche Bahn might be forced to cut aid for DB Cargo starting 2025, following a decision by EU competition regulator. Deutsche Bahn is responsible for covering DB Cargo’s losses. DB Cargo has seen a significant decline in market share in recent years and now handles less than 50% of rail freight transport in Germany.
REMEMBER- DB Cargo recorded some EUR 500 mn in losses in 2023, putting it at a jeopardy of being broken up by the EU if its figures are deemed to be distorting the market. This is because of single-wagon traffic incurring chronic losses, with consignments of a few wagons at most being transported at great expense.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Maersk’s dual-fuel methanol vessel lands in Singapore: Maersk’s latest 350-meter-long dual-fuel methanol vessel landed in Singapore last week in light of the industry’s decarbonization efforts. (Statement)
- DHL + Allegro partner up on delivery services: DHL e-commerce inked an agreement with Allegro that will integrate DHL’s pickup points, parcel lockers, and courier services in Allegro Delivery program to boost delivery services in Poland. (Press Release)
- Malaysia Airlines gets new Airbus jet: Malaysia Aviation Group’s Malaysia Airlines has received the first out of 20 Airbus A330neos, with aircraft leasing company Avolon leasing them the A330-900. (Statement)
- Panama to begin cancelation of vessels: Panama has started the cancellation of six Panamanian vessels that were added on the UK’s consolidated list of financial sanctions targets. (Reuters)
