Global shipping giant AP Moller Maersk has joined a global initiative to expedite the transition to low-carbon steel with the goal of procuring 100% net-zero steel by 2050. Maersk is the first company in the shipping and maritime sector to commit to net-zero steel. Maersk, which has a goal of net-zero carbon emissions by 2040, said in April that it will become a part of SteelZero, a program that requires members to procure, specify or stock 100% net zero steel by 2050. Maersk Head of Responsible Ship Recycling Captain Prashant Widge told Supply Chain Dive “The carrier will work with suppliers to address key barriers in decarbonizing the industry. Working groups or roundtables will assist organizations in developing a roadmap to fulfill their commitment to net zero steel.”Maersk will focus on recycling ships as one of the ways it meets its net-zero goals. More than 700 vessels operated by Maersk are projected to be recycled in the next decade with a large proportion being post-panamax size ships. Maersk Senior VP & CTO Palle Laursen said “Global ship recycling volumes are projected to nearly double by 2028 and quadruple by 2033. Recycled steel will be recognized as a “viable raw material” for steel customers with net-zero emissions targets.”Steel which contributes 7% of global greenhouse gas emissions, accounts for approximately 90% of a ship’s weight and the maritime sector is starting to join the drive to decarbonize this key material. Other carriers are also moving to recycle ships by joining the Ship Recycling Transparency Initiative, a platform aimed to accelerate the voluntary approach to responsible ship recycling which launched in 2018. Maersk is a founding member of the initiative. CMA CGM, Hapag-Lloyd, Evergreen and NYK Line are among participating carriers, providing information regarding their ship recycling policy, standards and practices.
Global shipping giant AP Moller Maersk has joined a global initiative to expedite the transition to low-carbon steel with the goal of procuring 100% net-zero steel by 2050. Maersk is the first company in the shipping and maritime sector to commit to net-zero steel. Maersk, which has a goal of net-zero carbon emissions by 2040, said in April that it will become a part of SteelZero, a program that requires members to procure, specify or stock 100% net zero steel by 2050. Maersk Head of Responsible Ship Recycling Captain Prashant Widge told Supply Chain Dive “The carrier will work with suppliers to address key barriers in decarbonizing the industry. Working groups or roundtables will assist organizations in developing a roadmap to fulfill their commitment to net zero steel.”Maersk will focus on recycling ships as one of the ways it meets its net-zero goals. More than 700 vessels operated by Maersk are projected to be recycled in the next decade with a large proportion being post-panamax size ships. Maersk Senior VP & CTO Palle Laursen said “Global ship recycling volumes are projected to nearly double by 2028 and quadruple by 2033. Recycled steel will be recognized as a “viable raw material” for steel customers with net-zero emissions targets.”Steel which contributes 7% of global greenhouse gas emissions, accounts for approximately 90% of a ship’s weight and the maritime sector is starting to join the drive to decarbonize this key material. Other carriers are also moving to recycle ships by joining the Ship Recycling Transparency Initiative, a platform aimed to accelerate the voluntary approach to responsible ship recycling which launched in 2018. Maersk is a founding member of the initiative. CMA CGM, Hapag-Lloyd, Evergreen and NYK Line are among participating carriers, providing information regarding their ship recycling policy, standards and practices.
