Evergreen and CIP team up to study production, usage of hydrogen-based bunker fuels

Taiwanese shipping major Evergreen Marine Corporation (Evergreen) on Friday (20 October) said it has teamed up with greenfield renewable energy fund manager Copenhagen Infrastructure Partners for a collaboration on hydrogen-based marine fuels.

Both signed a Memorandum of Understanding (MOU) to jointly explore production and usage of carbon-neutral e-fuels. CIP has signed the MOU on behalf of its Energy Transition Fund.

The cooperation will have several aspects including production of e-fuels in Taiwan based on offshore wind, but also exploration of a broader supply of green fuels such as e-ammonia and e-methanol. 

“Taiwan plays a vital role in the global supply chains not only as a producer, but also as a container ship operator, controlling about 10% of the world’s container shipping fleet,” Evergreen said.

“Taiwan has good conditions for offshore wind and with a growing government support for decarbonisation it has the potential to become a producer of the future fuel types. CIP is currently constructing and developing several offshore wind farms in Taiwan with strong ties to the Taiwanese industries and society.”

CIP Partner Felix Pahl, said: “ETF is the world’s largest fund dedicated to investing and developing advanced energy technology which supports the transition to renewable energy. CIP already has a strong footprint in Taiwan, and we are looking forward to working with Evergreen to further support Taiwan’s ambition of realising 2050 net zero goal.”

Manifold Times previously reported Evergreen announcing it ordered 24 methanol dual fuel containerships from two Asian shipyards, worth up to USD 5 billion.

In two stock exchange filings with Taiwan Stock Exchange filed on 11 July, Evergreen announced, on behalf of its subsidiary Evergreen Marine (Asia) Pte Ltd, it has ordered 16 units of 16,000-TEU container vessels from South Korean shipyard Samsung Heavy Industries costing USD 180,000 to USD 210,000 per vessel. The total cost is expected to be between USD 2.88 billion and 3.36 billion. 

Another eight units of the same capacity was ordered from Japan’s Nihon Shipyard, costing the same amount per vessel. The total cost is expected to be between USD 1.44 billion and 1.68 billion. 

Related: Evergreen orders 24 methanol dual fuel boxships from two Asian shipyards

Photo credit: Evergreen Marine Corporation
Published: 23 October, 2023