Maersk Advances Fleet Renewal with Massive Dual-Fuel Vessel Orders

Maersk is advancing its fleet renewal program by ordering and chartering 800,000 TEU of dual-fuel containerships as it seeks to keep its “competitive edge”.

Continuing its program initiated in 2021, A.P. Moller – Maersk (Maersk) revealed on Wednesday that it is in the process of signing newbuilding orders and time-charter contracts for dual-fuel vessels, aligning with the planned renewal pace of around 160,000 TEU per year.

The vessel orders will total 50-60 dual-fuel ships, combining 300,000 TEU of owned capacity and 500,000 TEU through time-charter agreements.

“Our fleet renewal program is fundamental to maintaining a competitive edge in our ocean business, and it is a cornerstone in decarbonizing our operations. As the shipyard orderbooks have been filling up quickly and lead times for vessel deliveries have increased significantly, we decided to place orders and charter contracts for 800,000 TEU (twenty-foot equivalent) dual-fuel vessels. This ensures a steady flow of needed capacity for our network from 2026 to 2030 while building a competitive toolkit,” said Rabab Boulos, Chief Operating Officer at Maersk.

Maersk said using a mix of owned and chartered vessels seeking to maintain financial and operational flexibility while owning significant strategic tonnage. The vessels will also vary in size, providing network flexibility.

Maersk said the propulsion technology will depend on future regulations and green fuel availability. The company is in the process of securing offtake agreements for liquified bio-methane (bio-LNG) to ensure the new dual-fuel gas vessels reduce greenhouse gas emissions this decade.

Maersk is equipping all new build vessels with dual-fuel engines, primarily using methanol and liquefied gas. The strategy aims to enhance fleet competitiveness and meet decarbonization goals, with green methanol as a key short-term solution and a multi-fuel future including liquefied bio-methane. Upon delivery, about 25% of the Maersk fleet will have dual-fuel engines.

Maersk has set a decarbonization target aiming for net zero emissions by 2040, setting targets for significant emission reductions by 2030, and committing to ordering newbuild vessels that can be operated on green fuel. Maersk has previously announced orders of 25 owned dual-fuel methanol vessels; 5 in service and 20 on order, providing around 350,000 TEU of dual-fuel capacity.

“These orders will not add to the overall capacity. Over time, every vessel coming in will replace a scrapped vessel that has reached end of life, ensuring that we maintain our fleet size at around 4.3 million TEU. By diversifying our fleet and fuel options, we gain the flexibility, knowledge, and experience to cater to a future with multiple fuel paths. We thank our partners for working with us to move the industry further towards enabling a future with decarbonized ocean transport,” said Ahmed Hassan, Head of Asset Strategy & Strategic Partnerships at Maersk.

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