Danish shipping company Maersk has announced the launch of a new research centre, Maersk Mc-Kinney Møller Center for Zero Carbon Shipping.
It is expected to lead the way for the development of new fuel types and technologies.
The shipping industry has announced plans to reduce carbon emissions around the world by 2050.
The centre was founded by ABS, AP Møller – Maersk, Cargill, MAN Energy Solutions, Mitsubishi Heavy Industries, NYK Line and Siemens Energy.
The centre will be located in Copenhagen, Denmark, and is financed by a donation of kr400m ($60.3m) provided by the AP Møller Foundation.
The independent research centre will support the shipping sector and partner with industry, academia and authorities.
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The team will consist of people from different disciplinaries and will partner to form overviews of decarbonisation pathways, boost the development of some decarbonising fuels and power technologies.
It will also support the formation of regulatory, financial and commercial means to help the transformation.
AP Møller Foundation Board chairman Ane Uggla said: “With this donation, The A P Møller Foundation wishes to support the efforts to solve the climate issue in global shipping. My father Maersk Mc-Kinney Møller was a visionary leader in the global shipping industry for more than seven decades.
“He was concerned about shipping’s impact on the environment. Already, in the 1980s, he championed the use of low sulphur fuel, and he pioneered the first double hull oil tankers in the 1990s to minimise the risk of oil spills. Therefore, I find it very natural that my father’s name will be connected to the centre.”