In the first quarter of 2024, A.P. Moller - Maersk will introduce the first in a series of eight large ocean-going container vessels capable of being operated on carbon-neutral methanol. The vessels will be built by Hyundai Heavy Industries (HHI) and have a nominal capacity of approx. 16,000 containers (Twenty Foot Equivalent - TEU). The agreement with HHI includes an option for 4 additional vessels in 2025.
The vessels come with a dual fuel engine setup. Additional capital expenditure (CAPEX) for the dual fuel capability, which enables operation on methanol as well as conventional low sulfur fuel, will be in the range of 10-15% of the total price.
Maersk will operate the vessels on carbon-neutral e-methanol or sustainable bio-methanol as soon as possible. Sourcing an adequate amount of carbon neutral methanol from day one in service will be challenging, as it requires a significant production ramp up of proper carbon neutral methanol production, for which Maersk continues to engage in partnerships and collaborations with relevant players.
The vessels will be designed to have a flexible operational profile, enabling them to perform efficiently across many trades, and add flexibility regarding customer needs. They will feature a methanol propulsion configuration developed in collaboration with makers including MAN ES, Hyundai (Himsen) and Alfa Laval which represents a significant scale-up of the technology from the previous size limit of around 2,000 TEU. The vessels will be classed by the American Bureau of Shipping and sail under Danish flags.
The series will replace older vessels, generating annual CO2 emissions savings of around 1 million tonnes. As an industry first, the vessels will offer Maersk customers truly carbon neutral transportation at scale on the high seas.
More than half of Maersk’s 200 largest customers have set—or are in the process of setting—carbon targets for their supply chains. As part of Maersk’s ongoing collaboration with customers, corporate sustainability leaders including Amazon, Disney, H&M Group, HP Inc., Levi Strauss & Co., Microsoft, Novo Nordisk, The Procter and Gamble Company, PUMA, Schneider Electric, Signify, Syngenta and Unilever have committed to use and scale zero carbon solutions for their ocean transport, with many more expected to follow.
The new vessels come as part of Maersk’s ongoing fleet renewal program and will replace tonnage of more than 150,000 TEU which is reaching end-of-life and leaving the Maersk managed fleet between 2020 and Q1 2024.
CAPEX for the announced vessels is included in current guidance for 2021-2022 of US$7 billion. Maersk further reiterates its strategy of maintaining a fleet capacity in the 4.0 to 4.3 million TEU range, as a combination of Maersk managed and time-chartered vessels.