World-class containerships charterer, Seaspan, plans to add green fuel-related activities to its ship leasing portfolio. According to Shipping Watch, the company is starting a new project called “Chase the Molecule” to secure low-emission fuel availability for the shipping sector.

The new project includes providing alternative fuels “at competitive prices” to ports worldwide. Seaspan’s COO Torsten Pedersen told Shipping Watch, “We’re currently engaged in multiple discussions and initiatives with customers and manufacturers. So far, it’s possible to imagine that we’ll make agreements with manufacturers in regions that would be able to deliver fuel to the most important shipping hubs in the world.”

According to Pedersen, “The goal is to set up a network of green fuel suppliers, not least of ammonia and methanol, and there needs to be enough of it to cover global demand,” reported Shipping Watch.

Seaspan sees that ammonia and methanol are the two markets that need more consolidation when it comes to alternative fuel availability. Therefore, the company sees an opportunity to connect manufacturers and suppliers in this field.

“There are specific locations around the world that easily could become suppliers of green fuels. Good access to either sun, wind, or natural gasses with the added option for carbon capture is a must, naturally. However, we’ll also see production facilities pop up where state subsidies are strong, such as the US’ Inflationary Reduction,” Pedersen told Shipping Watch.

On another note, Japanese ocean carrier Ocean Network Express (ONE) announced last week that the acquisition transaction of Atlas Corp., the parent of Seaspan, is now complete. A consortium of companies, including ONE, Fairfax Financial Holdings Ltd., and the Washington Family, became owners of Atlas Corp. as part of the acquisition agreement.