Maersk spends $1.4 billion on carbon-neutral vessels

Denmark

COPENHAGEN, August 25, 2021 – A.P. Møller-Mærsk will add eight vessels capable of running on carbon-neutral methanol, the Danish logistics firm announced on Tuesday.

The company will invest USD 1.4 billion in the fleet expansion.

Hyundai Heavy Industries is tasked with building the vessels, each with a nominal capacity of 16,000 teu. The vessels are to be delivered in Q1 2024.

The contract includes an option for four additional vessels in 2025.

The move will replace existing vessels and bring down the company’s annual carbon emissions by 1 million tonnes.

The company aims to be carbon-neutral by 2050, which involves replacing its fleet by 2030 given a vessel’s average lifetime of 20-35 years.

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