To accelerate the maritime decarbonisation journey, the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping (the Center) is teaming up with Maersk Broker Advisory Services and McKinsey & Company to offer data-based advisory services on decarbonisation pathways.
The service called ‘Fleet Decarbonisation Optimizer’ combines deep industry knowledge and techno- economic analytical capabilities across the three parties and together they model bespoke decarbonisation pathways taking data points like fleet size, fleet age, vessel specifics and types of operations into consideration.
The ambition to decarbonise the maritime industry by 2050 calls for immediate action. However, uncertainty around future fuels and technologies, lack of global standards and regulation and limited visibility on timelines makes the investment case challenging. The goal is to de-risk fleet decarbonisation plans by advising on
- Retrofits of energy efficiency technologies to reduce future emissions and energy demand
- Retirement schedule of legacy vessels for continued fleet optimisation
- Newbuilds incl. proposed alternative fuels / propulsion
Maersk Broker Advisory Services and McKinsey & Company announced the partnership in July 2021 and since then the Center has participated in a pilot project to validate the concept and collaboration model. Based on the positive result of the pilot the three parties have now formalized the agreement and will start offering the services in the market immediately.
Bo Cerup-Simonsen, CEO of the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping:
“We see great interest from shipping companies who want to contribute to the decarbonization of the industry but identifying the optimal decarbonization pathway is not easy. The partnership with Maersk Broker Advisory Services and McKinsey can help accelerate the transition by offering bespoke, data-based advice on viable ways forward. This new way of activating and leveraging our publicly available tools, our modeling skills and knowledge ensures close interaction with the shipping industry and will inform our research and activities going forward as we learn even more about the concrete, practical challenges the shipping companies face.”
Anders Hald, CEO of Maersk Broker:
“We believe collaboration will be key for a successful and just transition of the maritime industry and we are excited for the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping to join this partnership. The industry has to decarbonize but most companies are hesitant to initiate a transition due to the considerable uncertainty on what the future holds. In our opinion the combined knowledge put into the Fleet Decarbonization Optimizer brings forward the best available data to the industry so companies can make well-informed investment decisions and navigate the uncertainty. The Fleet Decarbonization Optimizer provides tangible solutions in an environment filled with unanswered questions on future fuels, rules, and regulations. We are looking forward to assisting the industry to prepare and put forward a credible- and
data-based decarbonization roadmap. A clear decarbonization strategy will be essential to initiate a
successful green transition.”
Matt Stone, Partner of McKinsey & Company:
“In a large, diverse, global industry like shipping, decarbonization at scale will require participants across the value chain to move together and at pace. The partnership with Maersk Broker Advisory Services and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping on the Fleet Decarbonization Optimizer brings the best of our three organizations together to help the shipping industry understand what it will take to decarbonize in the most cost-optimal way.”
Shipping’s roadmap to decarbonisation
With 100.000 ships consuming around m300Tons fuel p.a. global shipping accounts for around 3% of global carbon emissions, a share that is likely to increase as other industries tackle climate emissions in the coming decades.
Achieving the long-term target of decarbonisation requires new fuel types and a systemic change within the industry. Shipping is a globally regulated industry, which provides an opportunity to secure broad-based industry adoption of new technology and fuels.
To accelerate the development of viable technologies a coordinated effort within applied research is needed across the entire supply chain. Industry leaders play a critical role in ensuring that research is successfully matured to scalable solutions matching the needs of industry. At the same time, new legislation will be required to enable the transition towards decarbonisation.
Source:MaerskTags: Decarbonisation, Maersk, McKinsey, Shipping