Rumours of Danish shipping giant AP Moller-Maersk switching to LNG fuel have intensified in recent days, with the latest news claiming that the company is planning to build and charter at least 23 LNG dual-fuel container ships.
According to Trade Winds, sources close to Maersk's movements say the company has issued a request for proposals to a number of shipyards for a series of 12 new 16,000 TEU-class container ships, with details of the enquiry being kept strictly confidential.
Meanwhile, Maersk has signed charters for at least 11 LNG dual-fuel containerships with two owners, shipbrokers said.
The two owners were linked in a Trade Winds report to SFL, controlled by Norwegian kingpin John Fredriksen, and Seaspan Corp, a Canadian container ship tonnage provider. The former placed an order for five LNG dual-fuel 16,000 TEU-class containerships at New Era Shipbuilding on 3 July and said it had signed a 10-year, $1.2bn charter with a major liner operator, without disclosing the name of the charterer. The latter is in final negotiations with Maersk to order five, 16,000 TEU-class LNG dual-fuel containerships at the same yard.
Seaspan is said to have signed an order for the five vessels at a Chinese shipyard, but the deal will only become effective when the charter party is finalised.
If this is the case and all the orders come into effect, Maersk will have a fleet of 23 LNG dual-fuel containerships. Brokers have hinted that the company may have more LNG dual-fuel containership charters in the pipeline.
A Maersk spokesperson told Maritime Circle Focus that the company does not comment on rumours.
This is the second time in a month that Maersk has been rumoured to be switching to LNG fuel, according to Maritime Circle Focus tracking.In late June, observers in the bunker market, brokers, and the newbuilding industry were suggesting that Maersk was in talks with a number of companies to charter in a series of LNG dual-fuel newbuildings. These discussions involved some 16,000 TEU containerships, ranging from six to 16. Seaspan Corp was frequently mentioned as one of the potential charterers, while China's New Era Shipbuilding and Yangtzekiang Shipyard were among the yards likely to be involved in the project.
The current rumours are more aggressive than those of a month ago and, if true, indicate that Maersk's interest in LNG as a transition fuel is growing dramatically.
Maersk has long been a "flag-bearer" for green methanol fuelling, and has publicly stated that it would not choose LNG as a fuel. The company's reversal of strategy has sparked much speculation and doubt.
Maersk's shift in strategy is seen as a last resort in light of the supply and cost challenges of green methanol, as LNG is a relatively mature fuel with the advantage of significant CO2 emission reductions and a relatively mature supply chain. Proponents of LNG fuel argue that the use of fossil LNG as a fuel can reduce CO2 emissions by around 20 per cent, meaning that ships will be able to comply with the forthcoming FuelEU Maritime regulations until the end of 2039. And with a fuel blend of one-third bio-LNG, the compliance period will be extended to 2050, making LNG a safer choice as a transition fuel for the time being.
Maersk's industry followers say Maersk CEO Vincent Clerc has demonstrated a pragmatic and astute management style in his 18 months in office. He has not been afraid to try new things commercially while achieving the company's environmental goals. With methanol currently in short supply and costly, the move to LNG dual-fuel vessels makes sense.
In addition, Maersk may also be using LNG as an intermediate step on the road to ammonia fuelling. Ammonia is widely recognised as the future of shipping as a zero-carbon fuel. However, ammonia fuel technology is still in the developmental stage and is still some way from being commercialised, and LNG, as a low-carbon fuel, could buy valuable time for ammonia fuel to be rolled out.
Maersk's move to LNG will undoubtedly accelerate its popularity as a marine fuel, and the company's massive LNG ship order book will stimulate the LNG shipbuilding market and boost LNG refuelling infrastructure. At the same time, this strategic reversal will intensify the competition for diversification of shipping fuels. Green methanol, LNG, ammonia and other fuels will co-exist, and shipping companies will face more complex fuel selection and management challenges.
From different perspectives in the short and long term, the advantages of LNG and green methanol as alternative fuels are "winners and losers". Diversification of fuel choices will be the dominant trend in the shipping industry's fuel market in the future. Maersk's strategic shift is not only an important point in its own development, but will also have a profound impact on the future direction of the industry as a whole.
https://www.cnss.com.cn/html/hygc/20240716/354069.html
|
Back:
Next:
