CMA CGM announces €200 million in awards to shipping decarbonisation projects

French container shipping company CMA CGM has called for startups and other businesses submit proposals for projects that can contribute cut French shipping emissions.

PHOTO: A CMA CGM container ship. CMA CGM

The projects worth €200 million ($218 million) will be financed from CMA CGM's Fund for Energies.

The call for projects is open to all companies operating in the French maritime industry and the projects will be selected in coordination with the French government, it says.

CMA CGM announced the creation of this fund in September 2022 with a total allocation of $1.5 billion spread over five years to support the firm’s energy transition.

The fund seeks to scale up production of biofuels, green methanol and other alternative fuels, and secure volumes in line with demand from CMA CGM's fleet. It also seeks to support new designs and propulsion technologies to reduce fuel consumption and emissions from container ships.

CMA CGM has already allocated some of the funds to three projects.

It has collaborated with French utility firm Engie to produce 11,000 mt/year of biomethane by 2026, and scale up production to 200,000 mt/year by 2028 through the Salamander Project.

It plans to build a 100,000 mt biomethane production and liquefaction facility over the next three years in partnership with Dutch LNG bunker supplier Titan.

CMA CGM is also a partner in the Jupiter 1000 project to mass produce e-methane near France's port of Fos.

By Shilpa Sharma

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