Maersk and Goldwind Ink Groundbreaking Green Methanol Offtake Agreement

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Copenhagen, November 23, 2023 – A.P. Moller – Maersk, a global shipping giant, has entered a significant long-term offtake agreement with Chinese clean energy leader, Goldwind, marking a historic milestone in the global shipping industry’s move towards sustainable practices, according to Maersk.

The groundbreaking deal, encompassing a commercial arrangement for annual volumes of 500 kilotons (KT), will support Maersk’s ambitious low-emission operations for the first 12 of its large methanol-enabled vessels currently on order. The first volumes are expected to be delivered in 2026.

A.P. Moller – Maersk, aiming to achieve net-zero greenhouse gas emissions by 2040, sees this agreement as a crucial step in reducing its emissions footprint in line with the 1.5-degree Celsius trajectory outlined in the Paris Agreement. Rabab Raafat Boulos, Chief Infrastructure Officer at A.P. Moller – Maersk, emphasizes the deal’s role in de-risking the initial stages of Maersk’s net-zero journey and fostering expectations for a competitive green methanol market by 2030.

The agreement with Goldwind, a company renowned for its commitment to clean energy, underscores Maersk’s dedication to pioneering sustainable solutions in the maritime sector. Wu Gang, Chairman of Goldwind, expresses excitement about collaborating with Maersk in promoting the green transition and sees green methanol as a crucial and economically feasible clean maritime fuel in the future.

The offtake agreement involves a mix of green bio-methanol and e-methanol, both produced using wind energy at a new facility in Hinggan League, Northeast China, approximately 1000km northeast of Beijing. Production is slated to commence in 2026, with Goldwind anticipating a final investment decision for the facility by year-end.

Despite the positive momentum and efforts observed in the development of green fuel projects worldwide, Rabab Raafat Boulos acknowledges that there is still a considerable distance to cover in establishing a global green fuels market capable of facilitating the decarbonization of global shipping.

A.P. Moller – Maersk is set to take delivery of its first large ocean-going methanol-enabled vessel, with a capacity of 16,000 TEU, in the first quarter of 2024. The company is actively collaborating with a diverse range of global partners to source solutions for the entire vessel series scheduled for delivery in 2024-25.

Source: Maersk

Source Maersk
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