Maersk is exploring more ethanol for green fuel in order to reduce its reliance on China.

The Financial Times published an interview with Maersk's CEO, Vincent Clerc, on Sunday. This could reduce the company's dependence on China, and help the industry to decarbonise.

Clerc stated that the U.S. and Brazil are the leading producers of ethanol in the world.

Clerc told FT that if all the benefits are concentrated in China then some countries may object. But if they're more evenly distributed then many more will be supportive. It will allow more countries to see the benefits of the green transition. 

The shipping industry is more difficult than others to reduce emissions. This requires expensive retrofits for existing vessels or new ships that are able run on efuels. 

Hapag-Lloyd and North Sea Container Line (NCL), two shipping companies, won a tender late last year to use low-emission fuels made from hydrogen on container ships starting in 2027. The contract will run for three years. 

(source: Reuters)