Maersk sets sights on 60% fuel reduction
Larger vessels, better planning and lower speeds are the main reasons for Maersk's 40 percent reduction in fuel consumption since 2007. Now, the world's largest container line is aiming for even higher environmental ambitions.
"We are now setting new targets because it makes sense for us at Maersk. We aim to reach a 60 percent reduction by 2020. That is an enormously high target and I cannot guarantee that we will reach it. But we will be doing our utmost," said Maersk Line Chief Operating Officer Soren Toft.
In absolute figures, Maersk Line has reduced its CO2 emissions since 2007 by 11.5 million tons. This is the same amount that has been removed from the entire Danish energy consumption in the same period. Maersk is working to achieve the same ambition as the Danish government - to remove emissions from economic growth.
"Our reductions will take place at the same time as we grow in the market. We will reduce our fuel consumption both in real terms and relative to each transported container. We are not just doing it to be good and responsible, it also contributes to our bottom line," said Toft.
In 2013 alone, Maersk saved $764 million compared to the previous year as a result of improved fuel economy. The following year saw further savings of $80 million.
Climate and economy professor Kirsten Halsns of the Technical University of Denmark said Maersk's new targets are remarkable.
"The transport sector is one of the most difficult sectors to reduce CO2 emissions because you cannot just switch from fuel to wind or solar energy. At the same time, international trade is on the increase. So it is certainly commendable if they set themselves a 60 percent reduction target. They also save a lot of money by doing it - but that is not something they have to apologize for," said Halsns.
Some 90 percent of all goods are transported by ship, and the sector is responsible for three percent of global CO2 emissions. That is slightly more than the total emissions from Germany and Halsnaes said the development in the sector is an important constituent of global climate ambitions.
"Obviously, if we are to keep global temperature increase under two degrees, all sectors will have to contribute," Halsnaes added.
The main reason that Maersk has been able to save so much fuel is that its vessels have reduced speed. Known in the trade as slow steaming, it has the same effect as when motorists put less pressure on the accelerator.
Toft admitted that previously the sector acted like motorists who drive at 200 kilometers an hour on the motorway.
"But then, crude oil cost $20 per barrel and it was a different set of mathematics. Freight rates were also higher and just as any other company we focused on the bottom line. But if you compare us with our competitors, we are much more efficient," said Toft.
Lower fuel consumption is also a trend with the other major container lines.
Greenpeace Climate Adviser Jens Mattias Clausen said it is "encouraging that Maersk is prepared to be part of the solution for shipping".
Emissions from the Danish merchant fleet are not counted as part of Denmark's CO2 emissions.
(China Daily 06/20/2015 page6)
