SIMIC

SEASPAN Corporation asserts that the existing business model for container shipping to achieve its decarbonisation goals is inadequate until shipping companies can ensure a more stable and reliable supply of green fuels, reports New York's Journal of Commerce.

Without a secure and accessible source of sustainable fuels, the necessary increase in demand for such fuels cannot be realized.



"The big stumbling block here is how do we solve this Catch-22 between demand not quite being there and supply not being there,¡± said Sea span COO Torstein Holst Pedersen.



"It really comes down to making the economics work because otherwise, we will continue to go around in a vicious circle where nothing gets done. We cannot decarbonize shipping by good intent alone, and if it is not economically viable, we are not going to get there.¡±



Mr Pedersen's sober assessment of container shipping's progress toward decarbonisation stood in contrast with that of Maersk, which told the conference that despite the many supply challenges, momentum was building in the alternative fuel sector, especially around green methanol.



Said Maersk's energy markets chief Emma Mazhari: "We see that green methanol is a solution that can be implemented at scale in this decade, and the speed at which it is developing has been amazing.



"Just one year ago, we were alone on the dance floor having chosen green methanol as a decarbonisation solution, but we are encouraged to see many of our fellow container lines following our lead.¡±