A shortage of used cooking oil (UCO) has hit AP Moller Maersk’s plans to forge ahead with its carbon neutral policies.
The Copenhagen-based carrier with its fleet of more than 700 vessels is shifting away from using fossil fuels to power its fleet.
Maersk uses biofuels in some of its vessels following requests from some of its clients. However, the demand for UCO has gone up because of high demand.
The company uses about 12 million tons of marine oil annually but is using more biofuel in its quest to become a greener carrier.
“The biofuel is sourced from used cooking oil, but the problem is that the world doesn’t eat enough French fires,” CEO Soren Skou told Bloomberg.
“We can’t keep scaling it. If our growth rates continue, we will run out of cooking oil in one or two years.”
He added: There will be more investments in the coming quarters. The ship technology is not the limiting factor, but the availability of the green fuels is. It’s a new global energy system that needs to be built and that’s a massive challenge.”
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