Maersk Line: Fuel Efficiency Made Profits Possible

Maersk Line said it would like to see more global regulatory standards

Shipping giant Maersk Line reports in a new 2012 Sustainability Progress Update that improvements in fuel efficiency made since 2007 pushed its 2012 bunker costs $1.6 billion lower than they would have been otherwise, making the difference between a profit and loss for the year.

The report also said that in 2012 it had made "strong progress" on CO2 performance and container sustainability.

"Our CO2 performance has never been better, but we still see significant potential for further improvements as our new and more efficient Triple- E ships enter into service in 2013 and 2014," CEO Søren Skou wrote in the report's introduction.

The company announced in January that it had reached its 2020 target for reduction of carbon dioxide (CO2) emissions eight years early, cutting them by 25 percent from the 2007 level, and set a new 2020 target of 40 percent reduction for the 2007 baseline. 

Maersk Line said it was an advocate of global regulation on CO2 for shipping as it simplifies compliance and enforcement, as well as minimising the risk of evasion and unfair competition.

However it noted a trend towards more local and regional regulations.

"The challenge in the coming years will be to navigate effectively through a patchwork of local regulations," it said.

"We will continue to advocate stricter enforcement and work to push local best practice globally."

Maersk Line also said it is increasing its collaboration with partners, including owners of chartered ships, to improve its overall energy efficiency as it sees customers showing more interest in sustainability than in the past.

"We think it is exciting that CO2 performance is starting to become a real competitive parameter and we are ready to compete on environmental performance," the company said.