Maersk CEO calls for penalties for fossil fuel use in shipping

COPENHAGEN, August 30, 2024 – Maersk CEO Vincent Clerc has called on the International Maritime Organization to penalise the use of fossil fuels in shipping and incentivise green fuels.

Clerc took to LinkedIn on Wednesday to call on the IMO to apply the Green Balance Mechanism, designed by the World Shipping Council, which applies a fee on the use of fossil fuels and allocates the revenue to incentivising green fuels, bringing their price down to the equivalent of hydrocarbons-based fuels.

The Maersk leader was celebrating Wednesday’s naming ceremony for the Alette Mærsk – the first green methanol-powered vessel to arrive at a US port.

“Let’s be clear – the challenge ahead is immense. The shipping industry is vast, complex, and difficult to decarbonise. Our new series of dual-fuel vessels is a start, but it’s not a sustainable solution,” Clerc wrote.

“We need immediate, co-ordinated action across all industries. By 2030, we aim to transport 25% of our ocean cargo using low-emissions fuel. But achieving this target requires systemic change. We urgently need regulation that makes green fuels viable and affordable.”

“Global shipping leaders are united in this call. The time has come for the International Maritime Organization to approve the Green Balance Mechanism to incentivise sustainable shipping without significantly raising global trade costs.”

Photo of the Astrid Maersk, the company’s second methanol-enabled container vessel, courtesy of Maersk.

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