MAERSK has agreed to purchase 500,000 tonnes of green methanol annually from China's Goldwind, Goldwind Science & Technology Co announced.

This quantity is sufficient to fuel 12 large ocean-going containerships. Maersk is actively investing in green fuels to propel its fleet towards achieving net-zero emissions by 2040.

The broader shipping industry, responsible for three per cent of global greenhouse gas emissions, aims for net-zero emissions by 2050.

The production of green methanol is slated to commence in 2026 and will annually power half of the 24 methanol-enabled vessels currently on order for Maersk.

Despite already receiving the world's first methanol vessel, Maersk Laura, in July, the company eagerly anticipates the arrival of its first large ocean-going vessel in the first quarter of 2024.

Green methanol, derived from biomass or captured carbon and hydrogen from renewable power sources, has the potential to reduce emissions from container vessels 60 to 95 per cent compared to conventional fossil fuels.

The procured volumes of fuel from Goldwind encompass a blend of green bio-methanol and e-methanol, both produced utilising wind energy at a new facility in Hinggan League, northeast China.

In a strategic move in September, AP Moller Holding, the majority owner of Maersk, established a new entity named C2X to spearhead large-scale green methanol operations.

A month later, the company signed a framework agreement worth up to US$3 billion for the production of green fuel in the Suez Canal economic zone.