Danish shipping giant AP Moller-Maersk A/S plans to roll out the first of eight large container vessels fueled by carbon-neutral methanol in 2024, four years after the company rebuffed liquefied natural gas (LNG) as a low-carbon transition fuel.

The vessels are to be built by Hyundai Heavy Industries (HHI) with nominal capacity of about 16,000 containers, Maersk said. The deal with HHI includes an option for four more vessels in 2025. 

A dual-fuel setup would enable the ships to operate on methanol and “conventional low-sulfur fuel,” Maersk said. The additional capital expenditures for dual-fuel technology would be around 10-15% of the total price, allowing the ship owner “to take a significant leap forward in its commitment to scale carbon neutral solutions and lead the...