“Steel is an integral part of our value chain. We use it in our ships, containers, terminals, and warehouses and therefore, it is a pivotal part of our decarbonisation efforts. The steel industry is one of the largest emitters of CO2, contributing around 7% of global greenhouse gas emissions”, said Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands, A.P. Moller – Maersk.

A significant number of the more than 700 vessels operated by Maersk are set to be recycled in the next decade with a proportion being the post-panamax size ships (over 4000 TEU) with steel making up approx. 90% of these ships´ weight.

Palle Laursen, Senior VP & Chief Technical Officer, A.P. Moller – Maersk added: “Global ship recycling volumes are projected to nearly double by 2028 and quadruple by 2033. Recycled steel will progressively be recognised as a viable raw material for steel consumers with net-zero emissions targets. At Maersk we have both strong decarbonisation ambitions and ships’ coming to end-of-life, which offer a great opportunity to reduce our Scope 3 emissions by driving circularity in the steel industry.”