In a strategic move to advance its fleet renewal program, A.P. Moller – Maersk (Maersk) is set to sign newbuilding orders and time-charter contracts for dual-fuel vessels. This initiative, which continues from the program initiated in 2021, aims to meet a planned renewal pace of around 160,000 TEU (twenty-foot equivalent) per year.
Rabab Boulos, Chief Operating Officer at Maersk, highlighted the importance of this program “Our fleet renewal program is fundamental to maintaining our competitive edge in the ocean business and is a cornerstone in decarbonizing our operations. As 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 of dual-fuel vessels. This strategy ensures a steady flow of necessary capacity for our network from 2026 to 2030 while building a competitive toolkit.”
The new orders will consist of a mix of owned and chartered vessels, providing Maersk with strong financial and operational flexibility. The vessels will come in various sizes, offering great network flexibility. In line with its commitment to decarbonization, Maersk has chosen to equip these vessels with dual-fuel propulsion systems, including both methanol and liquefied gas options. While green methanol is expected to be a leading solution for short-term decarbonization, Maersk envisions a multifuel future that includes liquefied bio-methane.
Ahmed Hassan, Head of Asset Strategy & Strategic Partnerships at Maersk, commented on the strategic nature of these orders “Once the vessels are delivered, around 25% of the Maersk fleet will be equipped with dual-fuel engines. These orders will not increase our overall capacity. Instead, each new vessel will replace an older vessel that has reached the end of its operational life, keeping our fleet size at approximately 4.3 million TEU. By diversifying our fleet and fuel options, we are positioning ourselves to adapt to a future with multiple fuel paths. We appreciate our partners’ efforts to advance the industry towards a decarbonized future for ocean transport.”
Details about Maersk vessel orders and contracts
- The total orders will amount to 50-60 dual-fuel vessels, totaling 800,000 TEU.
- Approximately 300,000 TEU will be from owned vessels, with the remaining 500,000 TEU secured through time-charter agreements.
- The exact distribution of propulsion technologies will be determined based on future regulations and green fuel availability.
- Maersk is actively working on securing offtake agreements for liquefied bio-methane (bio-LNG) to ensure these new dual-fuel gas vessels achieve greenhouse gas emissions reductions within this decade.
- Previously, Maersk announced orders for 25 owned dual-fuel methanol vessels, with 5 already in service and 20 on order, representing around 350,000 TEU of dual-fuel capacity.
About Maersk
A.P. Moller – Maersk is a leading integrated logistics company committed to connecting and simplifying global supply chains. Operating in more than 130 countries and employing around 100,000 people, Maersk aims to achieve net-zero emissions by 2040 across its entire business through innovative technologies, new vessels, and low-emission fuels.
Source A.P. Moller – Maersk