Container shipping giant, ONE, (a Shipping Australia full member), has announced a USD$20 billion investment plan from now until 2030.
The company will apparently be substantially investing over half this amount in vessels focused on its green strategy and its decarbonisation targets.
The company has already invested substantially in a new fleet. In the financial year 2020-2021, the company invested in four ships of up to 15,000 TEU in size. Looking forward, the company will be accepting increasing numbers of bigger ships up until at least Financial year 2024, with six ships of up to 24,000 TEU due for delivery in 2023. The company notes that these investments are “completed” and are not included in the USD$20 billion investment plan.
Looking forward, the company adds that it plans to invest in approximately 150,000 TEU of newbuildings on an annual basis and that obsolete vessels will be gradually replaced with newbuildings to achieve ONE’s commitment to decarbonisation.
The company has set a target to reduce “Scope 1” greenhouse gas emissions by 70% when compared to 2008 per TEU km by 2030. “Scope 1” emissions are those emissions that occur from sources owned / controlled by an organization. It has set a goal of net-zero greenhouse gas emissions (including Scope 2 and 3 emissions (emissions indirectly associated with the company or the value chain) by 2050.
The company will also invest in terminals, technology and in other areas, such as containers.
In additions to upgrading its hardware, the company aims to develop an alternative fuels roadmap, to have an approval in principle zero emission vessels by 2023 and to deploy its first alternative fuel ships by 2030.
In a separate announcement, the company has announced that it will add another 6,500 reefer units to meet a growing demand for the global reefer trades. The containers will be more environmentally friendly, using a water-based paint which does not release volatile organic compounds yet which is said to be of a similar quality to traditional solvent-based paints.
