World News
Reaching Net Zero by 2050 Will be Easier than Expected: Maersk
A.P. Moller-Maersk A/S CEO, Soren Skou, says reaching its target of net zero emissions by 2050 will be easier than originally expected.
"It will go a lot faster," he was quoted by Bloomberg as saying.
"We initially thought the challenge would be to develop a new way to run ships.
"But now we think we can keep the concept of the combustion engine we already know and then use methanol, or perhaps ammonia, with relatively few modifications."
Maersk will now look to announce a new GHG target at an investor day planned for March of next year.
The company has been extremely active in its pursuit of zero and low emissions tech for marine shipping, and has already ordered a number of methanol fuelled ships as well as secure some green methanol bunker supply.
The box shipping giant has also invested in a number of other future fuels projects, including bio-methanol, an electrofuels startup, and a lignin fuels start up.
Maersk is one of a growing number of industry stakeholders that believe the industry can achieve net zero emissions by 2050, an ambition far in excess of IMO's current strategy of a 50% reduction in emissions by 2050.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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