11/20/2023 | News release | Distributed by Public on 11/20/2023 15:38
UAE-based ship owner P&O Maritime Logistics will use e-methanol and e-ammonia for about 75pc of its marine fuel demand in 2050 as part of its net-zero CO2 emissions target.
The company does not presently use e-methanol or e-ammonia, but aims to use them for about 15pc of its fuel mix in 2035 and increase their share to 30pc in 2040. E-fuels, or electrofuels, are made using decarbonised or renewable electricity.
In 2050, P&O Maritime will also meet about 15pc of its fuel demand by utilizing batteries and fuel cells, and the remaining 10pc will be met with bio-LNG and e-methane fuels.
The company, which presently uses residual fuel oil and gasoil for nearly all of its marine fuel demand, will phase these out in 2040. LNG will account for about 25pc of P&O's fuel demand in 2040, but it will discontinue its use in 2050.
Biofuels will account for about 10pc of the company's fuel mix between 2025 and 2043 and will be gradually phased out by 2050.
The company owns and operates bulk carriers, tug boats and multi-purpose vessels. P&O charters a number of its vessels and does not pay for their fuel. But the company has the responsibility of reducing its emissions, thus it must engage in "collaborative efforts" with its clients to transition towards greener fuels. It is also open to exploring partnerships with fuel suppliers.
By Stefka Wechsler