X-PRESS FEEDERS SIGNS DEAL WITH EVERGREEN FOR METHANOL FUTURE

Feb 7, 2024 | Maritime business news, Marine environment & clean shipping news

Container shipping line Evergreen Marine Corporation has signed a memorandum of agreement (MoA) with Singapore-based independent carrier X-Press Feeders to place its containers on X-Press Feeders’ new dual fuel green methanol vessels.

X-Press Feeders is planning to run these vessels on green methanol and operate them within Europe. As one of the world’s largest container shipping companies and a key customer of X-Press Feeders, the agreement by Evergreen is considered a significant statement of leadership in a sustainable green future. The two companies will work together to launch a feeder network, which will be the first in Europe to be powered by green methanol.

The dual fuel ships will initially be centred at the Port of Rotterdam and will cover ports in the Baltic Sea and Scandinavia. Ultimately, the 14 dual fuel ships that X-Press Feeders has on order for delivery from 2024 Q2 through mid-2026 will be operated within Europe and the Mediterranean.

The company has already signed a firm contract with Dutch fuel supplier OCI Global for the supply of green methanol, which is ISCC-EU (International Sustainability and Carbon Certification) certified. Also known as bio-methanol, the fuel is a renewable energy source produced from the decomposition of organic matter, such as waste and residues.

The decision to add dual-fuel vessels powered by green methanol is a key element of X-Press Feeders’ pledge to reduce its GHG emissions (CO2e) by 20% by 2035, 50% by 2040 and be net zero by 2050.

Francis Goh, COO X-Press Feeders said: “We are pioneering the use of dual-fuel vessels and we decided to take delivery of our vessels sooner, rather than later, because we know we need to take significant steps today to meet the targets for reductions in GHG emissions. Our two companies are encouraging port operators, fuel suppliers, logistics companies, freight-forwarders and beneficial cargo owners (BCOs), etc to join us on the path to more sustainable shipping. By working together, step by step, we can achieve so much more.”

Image: MoA between X-Press Feeders and Evergreen (source: X-Press Feeders)

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