Maersk Maps India Investment Strategy as it Names Boxship in Mumbai
Maersk celebrated the naming of its eleventh dual-fuel methanol containership today, February 28, in Mumbai, India. It was Maersk’s first-ever naming ceremony in India and coincided with the company mapping out an investment opportunity pipeline of $5 billion in ports, terminals, and landside infrastructure development in India.
The company has been using the rollout of its fleet of methanol containerships to build global relations and highlight its leadership in future technologies for shipping. The newest vessel named Albert Maersk was celebrated at APM Terminals Mumbai. Serving as godmother for the vessel was Raksha Nikhil Khadse, Minister of State for Ministry of Youth Affairs and Sports.
The ship is part of the fleet being built by Hyundai Heavy Industries in Ulsan, South Korea. She has a rated capacity of 16,592 TEU, including 2,000 refer plugs. The vessel, which measures 350 meters (1,148 feet) can sail up to 23,000 nautical miles on methanol with two fuel tanks providing a total methanol capacity of 16,000 cbm.
“It is a privilege for India to host the naming of this advanced dual-fuel vessel, a historic first for a foreign shipping company in our country,” said Sarbananda Sonowal, India’s Minister of Ports, Shipping and Waterways. “With the demand for green vessels rising, India has the potential to become a major producer and supplier of green methanol, ammonia, and hydrogen-based fuels. Maersk’s decision to focus on green fuel production in India is a welcome step that will accelerate our journey towards a sustainable maritime future.”
As part of this week’s events, A.P. Moller – Maersk Chair Robert Maersk Uggla and APM Terminals CEO Keith Svendsen met India’s Prime Minister Narendra Modi to further discussions and the company’s future investments. Maersk reports it sees an investment opportunity pipeline of about $5 billion in India.
“Maersk looks forward to partnering with India on various aspects, such as exploring the potential sourcing of alternative fuels for low-emissions shipping and activities involving ship repairs and shipbuilding in the future,” reports the company. It highlights that the opportunities align well with the Indian Government’s ambitions to promote the shipping sector.
The company reports it facilitates the movement of one in every six containers imported or exported from India currently. APM Terminals has operations in Mumbai and Pipavav that handle over three million containers every year. The company also has 26 warehouses and a wide-reaching distribution network in India.