German shipping and container transport company Hapag-Lloyd has signed an offtake agreement with Chinese energy company Goldwind for an annual delivery of 250,000 tons of green methanol. The shipping company expects to save up to 400,000 tons of CO2 emissions per year compared to conventional fuels.
The company said the green methanol will consist of a blend of bio- and e-methanol, and comply with all current sustainability certification requirements. By 2030, Hapag-Lloyd aims to reduce the absolute GHG emissions of the fleet by around one third compared to 2022.
“As part of our Strategy 2030, we are fully committed to the 1.5-degree target of the Paris Agreement and therefore also to sustainable investments,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG. “With the agreement, we are securing a significant proportion of our requirements for green fuels. This will bring us an important step closer to our goal of achieving net-zero fleet operations by 2045. It is and remains our ambition to play a leading role in the transformation of the liner shipping industry.”
Shipping generates 3% of global greenhouse gas (GHG) emissions, primarily from the burning of fossil fuels. The European Union’s Emissions Trading System (ETS) requires shipping companies to purchase and use emission allowances for each ton of reported CO2 or equivalent starting in 2025. The first year, companies will only have to apply ETS for 40% of their emissions, gradually increasing to 100% in 2027. Additionally, the International Maritime Organization requires ships to calculate their energy efficiency and their carbon intensity with the goal of reducing the industry’s carbon intensity by at least 40% by 2030, compared to 2008.
“We are grateful for the opportunity to become a strong decarbonization partner of Hapag-Lloyd, which aims to achieve carbon neutrality ahead of the shipping-industry targets and aligns closely with Goldwind’s corporate vision,” said Wu Gang, Chairman of Goldwind.
The company said Goldwind plans to build a new green methanol factory adjacent to its existing project in Hinggan League, China.
Hapag-Lloyd has a fleet of 292 modern container ships. With Seaspan, the company is converting five ships to a suitable methanol dual-fuel propulsion system. The company said these ships in 2026 will be powered by green methanol. In November the company announced it would invest $4 billion in 24 new ships equipped for both liquefied natural gas (LNG) and biomethane, and ammonia-ready.
