Maersk signs MOU with Shanghai International Port Group on green methanol bunkering
A.P. Moller-Maersk (Maersk) has signed a Memorandum of Understanding (MOU) with Shanghai International Port Group (SIPG) on strategic cooperation for Shanghai Port methanol marine fuel project. The two parties will join hands to explore green methanol fuel vessel-to-vessel bunkering operation after Maersk’s green methanol container vessels being delivered in 2024, according to the company's release.
Maersk has set a net-zero emissions target for 2040 across the entire business, and the delivery and operation of its 19 vessels with dual-fuel engines able to operate on green methanol will accelerate the evolution of climate neutral shipping. Therefore, establishing port bunkering infrastructure for methanol is imperative and critical to achieve this goal.
Maersk and SIPG will deepen cooperation in stages. In the first phase, SIPG, as Maersk’s potential energy bunkering service provider, will carry out services of vessel-to-vessel bunkering and fuel tank storage at port. In the potential second stage, the parties will explore how to form an all-round energy strategic partnership to promote the extension from bunkering services to the upstream of the green methanol industry chain.
A.P. Moller - Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global logistics leader, the company operates in more than 130 countries and employs over 100,000 people world-wide. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels.
Shanghai International Port (Group) Co., Ltd. (SIPG), operator of public terminals in the Port of Shanghai, is a large-scale specialized conglomerate established in January 2003 through the restructuring of the Shanghai Port Authority. It became a shareholding company in June 2005 and was listed on the Shanghai Stock Exchange on October 26, 2006, becoming the first of its kind to go public in China. SIPG is currently the biggest listed company in port operation in the Chinese mainland, and one of the biggest in the whole world. The main businesses of SIPG include port handling operation, integrated logistics service, port- related service and port investment business. An industrial chain of port logistics encompassing stevedoring, warehousing and storage, shipping, land transportation and agent service has been put in place.
