Maersk Line Reaches 2020 CO2 Target Early

COO Morten Engelstoft said the company set a new target of 40% reduction by 2020.

The world's largest container shipper, Maersk Line, says it has already reached its 2020 target for reduction of carbon dioxide (CO2) emissions, cutting them by 25 percent from the 2007 level.

"Maersk Line's focus on energy efficiency has made the company significantly more cost competitive, said Chief Operating Officer Morten Engelstoft.

"And by cutting our CO2 we've also lowered the CO2 emissions of our customers, thereby helping them meet their own CO2 targets."

Engelstoft said the company is now setting a new 2020 target of 40 percent reduction.

He said the company met the 25 percent goal with improvements to operational efficiency, network and voyage optimisation, slow steaming, and technical improvements, and the company will continue using those methods to improve its performance.

In addition, he said, Maersk Line will work with vessel leasing partners to retrofit their ships and will introduce the Triple-E class vessels, set to be the world's largest vessels, which will be more energy efficient than their smaller counterparts.

The CO2 target is measured using methodology created by the Clean Cargo Working Group based on grams of  CO2 per kilometre of container cargo, and the data is verified by Lloyd's Register.

"Maersk Line is an advocate for global regulation of CO2 for shipping," Engelstoft said.

"Cutting CO2 is a benefit for our business, not a threat to it."

Maersk Line said in July that it had saved 160,000 tonnes of fuel and almost $90 million over three years by improving the efficiency of individual vessels.

The company has also signed on to voluntary agreements to use low-sulfur fuel in the ports of Gothenburg and Hong Kong.