Copenhagen: Danish shipping company Maersk is considering increasing the use of ethanol as a fuel, a move that could reduce its reliance on China and support efforts to cut emissions in the shipping industry, the Financial Times reported on Sunday, citing an interview with chief executive officer Vincent Clerc.
Clerc pointed out that China currently leads the market for alternative fuels such as green methanol, while the United States and Brazil are the world’s largest producers of ethanol. He said a fuel transition that benefits only one country or region is unlikely to gain broad global support, according to Reuters.
He added that if the economic benefits of cleaner fuels are shared more widely, more countries would be willing to back the transition, making the move to cleaner energy more attractive on a global scale.
The shipping industry is among the hardest sectors to cut emissions, as it often requires expensive upgrades to existing ships or the construction of new vessels capable of running on alternative fuels. In a related development, shipping firms Hapag-Lloyd and North Sea Container Line secured a tender late last year to operate container ships using low-emission fuels made from hydrogen from 2027 for a minimum of three years, aimed at reducing carbon emissions.
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