HomeCarbon NewsMaersk Purchases Carbon Neutral Tankers

Maersk Purchases Carbon Neutral Tankers

Shipping company Maersk (Ticker AMKBY) has purchased 8 carbon neutral tankers to prove its commitment towards a green future. The carbon neutrality in the tankers comes from low emitting methanol fuel.

The shipped are pegged to be completed in 2024 saving 1 million tons of carbon emission. In addition, the ship capacity will be 16,000 shipping containers.

Hyundai will be providing the facilities to build the tankers. Currently, each tanker comes in at a price tag of $175 million meaning the total investment will be around $1.4 million. As well, there are talks of Maersk buying four more additional tankers.

Many large companies such as Apple and Amazon have set carbon neutrality targets. Now, the shipping industry is taking steps towards a net-zero future. The shipping industry accounts for 3% of carbon emissions worldwide. Moving the shipping sector towards carbon neutrality is a huge step in the fight against climate change.

The CEO of Maersk is committing to a greener future, saying “The time to act is now if we are to solve shipping’s climate challenge”. In addition, the company said it was committed to helping customers seek a greener future, as well as helping customers decarbonize supply chains. This is a huge step in the shipping industry towards carbon neutrality.

Most Popular

Lenovo Unveils 2050 Net Zero Goal, Enters Carbon Credits Deal

Lenovo has revealed its goal to reach net zero greenhouse gas (GHG) emissions by 2050, which the Science Based Targets initiative (SBTi) approves, and...

Voluntary Carbon Credits Market Can Be Worth $1 Trillion in 2037

The total value of carbon credits traded in the market to help entities achieve their net zero goals can be worth $1 trillion as...

Amazon to Start Trading Renewable Energy in India

Amazon received the green light from Indian authorities to start trading renewable energy sources in the country. After securing a category-III energy trading license,...

UK Considers £300M Climate Bailout of British Steel

The UK government is considering a plan to channel a £300 million ($372 million) climate package to help British Steel reduce its carbon emissions...

Abandoned Oil Wells and Carbon Credits

You’ve probably seen dozens of pictures before that look exactly like the one above. An active oil field littered with pumpjacks, all churning out oil...

Is Offsetting Carbon Worth It?

Is offsetting carbon worth it? This question has never been more controversial right now and it deserves a good answer, especially if you're into...

How Does Carbon Capture and Utilization Work?

Carbon capture and utilization technology is not only useful, but a necessary strategy to reduce atmospheric CO2 levels, and stall an increase in global...

Top 4 Carbon Stocks To Watch In 2023

Carbon stocks, credits and capture technology are getting a lot of interest from investors. Companies will attract even more capital in 2023.