Save for later Print Download Share LinkedIn Twitter Maersk said it plans to launch the first of eight big container ships in early 2024 that will be capable of running on carbon-neutral methanol fuel. "This is a firm signal to fuel producers that sizable market demand for the green fuels of the future is emerging at speed," said CEO Soren Skou. The ships will be built by Hyundai Heavy Industries and will each have the capacity to carry 16,000 standard TEU shipping containers. They will replace older vessels that have reached the end of their commercial life and this will result in an estimated reduction in annual carbon dioxide emissions of around 1 million tons. The Danish company -- the world's largest container shipper -- said it had taken an option on an additional four of the vessels. They will cost $175 million each -- about 10% to 15% more than ships that run exclusively on conventional petroleum marine fuel. Maersk said the new ships will be capable of running on methanol or conventional low-sulfur marine fuel, adding that it will seek to switch to carbon neutral e-methanol or sustainable biomethanol "as soon as possible." It said the investment in the new vessels reflects the growing desire of major customers such as Amazon, Levi Strauss, Procter & Gamble and Unilever to decarbonize their global supply chains.
