Danish shipping company partners with Chinese developer for sustainable shipping
- Maersk signs 500,000 mt/year green methanol supply agreement with Goldwind
- Deal includes green bio-methanol and e-methanol produced using wind energy
- Production expected to begin in 2026
- Maersk aims to reduce emissions and stay aligned with Paris Agreement
- First methanol-powered vessel to be delivered in Q1 2024
- Maersk’s green methanol demand estimated to reach 5 million mt by 2030
- Shipper aims for net zero greenhouse gas emissions by 2040
Danish shipping company A.P. Moller Maersk has signed a 500,000 metric ton/year green methanol supply agreement with Chinese developer Goldwind. The deal includes a mix of green bio-methanol and e-methanol produced using wind energy. Production is set to begin in 2026. Maersk believes that green methanol is the most viable and scalable low emissions-solution for the shipping industry in this decade. The company aims to significantly reduce its emissions footprint and stay aligned with the 1.5-degree Celsius trajectory as set out in the Paris Agreement. Maersk will take delivery of its first methanol-powered vessel in Q1 2024 and plans to expand its sources of methanol supply globally. By 2030, Maersk’s green methanol demand is estimated to reach 5 million mt. The shipper is committed to achieving net zero greenhouse gas emissions by 2040, one decade ahead of the International Maritime Organization’s target.
Factuality Level: 8
Factuality Justification: The article provides specific details about the agreement between A.P. Moller Maersk and Goldwind, including the amount of methanol to be supplied, the production methods, and the timeline. The information is sourced from a news release by A.P. Moller Maersk and includes quotes from the company’s chief infrastructure officer. The article does not contain any obvious bias or opinion masquerading as fact. However, it is important to note that the article was created by Oil Price Information Service, which may have its own biases or interests in reporting on the topic.
Noise Level: 8
Noise Justification: The article provides relevant information about A.P. Moller Maersk signing a green methanol supply agreement with Goldwind. It includes details about the production facility, the expected production start date, and the number of methanol-enabled vessels on order. The article also mentions Maersk’s goal of achieving net zero greenhouse gas emissions by 2040. However, the article lacks scientific rigor and intellectual honesty as it does not provide any evidence or data to support the claim that green methanol is the most viable and scalable low emissions-solution for the shipping industry. It also does not explore the consequences of the decision on those who bear the risks or provide actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to the financial impact of A.P. Moller Maersk’s agreement with Goldwind to supply green methanol for its methanol-powered ships. This agreement will have implications for the shipping industry and potentially the renewable energy sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article does not describe any extreme event. It focuses on a business agreement between A.P. Moller Maersk and Goldwind for the supply of green methanol.
Public Companies: A.P. Moller Maersk (N/A)
Private Companies: Goldwind
Key People: Rabab Raafat Boulos (Chief Infrastructure Officer at A.P. Moller-Maersk)
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