{"id":82768,"date":"2024-12-02T00:00:00","date_gmt":"2024-12-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/02\/maersks-green-fuel-consumption-could-reach-15-20-by-2030\/"},"modified":"2024-12-02T00:00:00","modified_gmt":"2024-12-02T00:00:00","slug":"maersks-green-fuel-consumption-could-reach-15-20-by-2030","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/02\/maersks-green-fuel-consumption-could-reach-15-20-by-2030\/","title":{"rendered":"Maersk\u2019s green fuel consumption could reach 15-20% by 2030"},"content":{"rendered":"

<\/strong>Green fuel <\/strong>could account for a fifth of Maersk\u2019s total marine fuel <\/strong>consumption by 2030 as it tries to reach its net zero goals by 2040<\/strong>, depending on the company\u2019s energy efficiency measures and performance, Emma Mazhari VP and Head of energy markets told Reuters<\/a> last Thursday. The shipping giant usually consumes between 10-11 mn metric tons of fuel oil per year, 3% of which were alternative fuels in 2023, she added. \"We would probably look at 15% to 20% green fuel or renewable fuel in 2030,\" Mazhari said.<\/p>\n

What type of alternative fuels is Maersk eyeing?<\/strong> \u201cIt's going to be biodiesel. Green methanol is going to feature very heavily, and bio-methane as well,\u201d Mazhari said, explaining that bio-methane production \u2014 which can be used as fuel in ships that use LNG \u2014 is growing in Europe and North America.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

REMEMBER- <\/strong>Maersk inked a long-term bio-methanol offtake agreement with<\/a> China\u2019s Longi Green Energy Tech as it looks to secure methanol for its growing dual-fuel methanol fleet, with full production forecasted by 2030. <\/p>\n

ON A RELATED TOPIC-<\/strong> Hapag-Lloyd inked an agreement with China-based clean energy firm Goldwind for the delivery of 250k tonnes of green methanol annually<\/strong>, according to a statement<\/a> published on Thursday. Under the agreement, Goldwind will provide bio- and e-methanol products, which is slated to cut down greenhouse gas (GHG) emissions by at least 70%. The order\u2019s volume is expected to slash 400k tonnes of carbon emissions in fleet operations annually. The move is in line with Hapag-Lloyd's goal to drop its fleet\u2019s absolute GHG emissions by around one third in comparison to its 2022 rates by 2030.<\/p>\n

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DB Cargo gets a lifeline from the EC:<\/strong> German rail freight operator DB Cargo, a subsidiary of Deutsche Bahn, has received approval from The European Commission (EC) for EUR 1.9 bn (USD 2 bn) in state aid to carry out a restructuring plan by 4Q 2026, Reuters<\/a> reported on Friday.<\/p>\n

Why is this important? <\/strong>The EU opened an investigation in 2022, after a competitor of DB Cargo raised concerns about potential market distortions, according to the newswire. The investigation focused on \u201ca profit and loss transfer agreement between Deutsche Bahn AG and DB Cargo, intra-group services, group financing conditions of loans, and the partial coverage by the German Federal Railway Fund of remuneration for civil servants,\u201d the newswire writes. The agreement will be no longer viable starting 1 January 2025.<\/p>\n

ICYMI-<\/strong> Deutsche Bahn might be forced to cut aid for DB Cargo starting 2025<\/a>, following a decision by EU competition regulator. Deutsche Bahn is responsible for covering DB Cargo's losses. DB Cargo has seen a significant decline in market share in recent years and now handles less than 50% of rail freight transport in Germany. <\/p>\n

REMEMBER- <\/strong>DB Cargo recorded some EUR 500 mn in losses in 2023<\/a>, putting it at a jeopardy of being broken up by the EU if its figures are deemed to be distorting the market. This is because of single-wagon traffic incurring chronic losses, with consignments of a few wagons at most being transported at great expense. <\/p>\n

OTHER STORIES WORTH KNOWING THIS MORNING-<\/strong><\/p>\n