Maersk Sees Investment Opportunity Pipeline Of $5Bn In India

A.P. Moller-Maersk sees US$5 billion investment in India as it names its newest dual-fuel methanol container vessel in Mumbai. “We see an investment opportunity pipeline of about $5 billion in ports and terminals and landside infrastructure development,” reported the company in a media post.

As disclosed, India plays an instrumental role for the A.P. Moller-Maersk and for the global terminal operator APM Terminals, part of Danish A.P. Moller-Maersk.

The company’s footprint in India includes two APM Terminals operations in Mumbai and Pipavav that facilitate the import and export of over three million containers every year, 26 warehouses spread across 350,000 sq. m., and a distribution network that reaches more than 80% of India’s pin codes.

Last week Maersk chair Robert Maersk Uggla and APM Terminals CEO Keith Svendsen met with India’s prime minister Narendra Modi to further the discussions of their shared visions for the country in line with the Maritime Amritkaal Vision 2047 and the Indian government’s policy priorities, including Make in India, Sagarmala and Gatishakti.

“We believe we can play a role as a group in reducing the cost of logistics by ensuring that our customers access all their supply chain needs in one place-from all modes of transportation to port handling to warehousing and distribution,” said CEO APM Terminals, Keith Svendsen.

Maersk celebrated in Mumbai the name-giving of its newest dual-fuel methanol container vessel Albert Maersk, the eleventh vessel in Maersk’s fleet capable of operating on methanol.

‘Albert Maersk’ is part of a series of 18 large dual-fuel methanol vessels scheduled for delivery in 2024 and 2025. Built at Hyundai Heavy Industries in Ulsan, South Korea, she can carry 16,592 standard containers (TEU).

Photo credit: A.P. Moller-Maersk

Vincent Clerc, chief executive of A.P. Moller-Maersk, hosted the name-giving ceremony, which was attended by the Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, the Minister of State for Youth Affairs and Sports, Raksha Khadse, diplomats, government authorities, customers, partners and Maersk employees.

“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.”

Vincent Clerc, CEO of A.P. Moller-Maersk, highlighted the fact that India is among the world’s fastest-growing major economies, with a thriving manufacturing sector, a booming e-commerce industry, and expanding exports.

“Shipping and logistics are high on India’s priorities, and 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 that align well with the Indian Government’s ambitions to promote the shipping sector,” he said.

Keith Svendsen, CEO of APM Terminals, added: “As APM Terminals, we are ready to invest more in developing ports with low emissions and great efficiency that will help businesses grow and connect India with the global markets.”