Maersk has ordered eight mega vessels that run on dual fuel – bunker and green methanol, and are capable of carrying 16000 containers each from China to Europe. This is a first of its kind order from Maersk placed with Hyundai Heavy Industries and the delivery is expected by 2024. The new vessels will replace older ones as freight rates are soaring. Each vessel costs $175 million, which is 10-15% more than traditional ships. Green Methanol costs double the regular bunker fuel, but customers like Amazon and H&M are willing to absorb the extra cost.
