Maersk Boosts Fleet Renewal with Huge Investment in Dual-Fuel Ships

Maersk is actively expanding its fleet renewal program, initiated in 2021, by securing newbuild orders and time-charter contracts for dual-fuel vessels. This strategic move aligns with the company's target of replacing approximately 160,000 TEU of capacity annually.

The ordered capacity will feature a blend of owned and chartered vessels, allowing Maersk to retain substantial strategic tonnage while maintaining financial and operational flexibility. The fleet will include vessels of varying sizes, providing valuable network optionality. In line with Maersk’s commitment to decarbonisation, all vessels will be equipped with dual-fuel engines designed to operate on low-emission fuels. The chosen propulsion systems include a mix of methanol and liquefied gas, supporting the company’s goal of reducing carbon emissions.

Green methanol is anticipated to be the most competitive and scalable solution for short-term decarbonisation, but Maersk also envisions a multi-fuel future that incorporates liquefied bio-methane. Once the vessels are delivered, about 25% of Maersk’s fleet will feature dual-fuel engines, reinforcing the company's dedication to sustainable and flexible maritime operations.

The orders will total between 50 and 60 dual-fuel vessels, collectively amounting to 800,000 TEU, with approximately 300,000 TEU allocated to owned capacity and the remaining 500,000 TEU planned through time-charter agreements. The specific distribution of propulsion technologies will be finalized based on future regulatory requirements and the availability of green fuels, ensuring alignment with evolving environmental standards and fuel supply considerations.

Rabab Boulos, Chief Operating Officer at Maersk, outlined the significance of their fleet renewal program in maintaining their competitive edge and advancing their decarbonization goals. With shipyard orderbooks rapidly filling and lead times for vessel deliveries extending, Maersk has strategically placed orders and charter contracts for 800,000 TEU (twenty-foot equivalent) dual-fuel vessels. This proactive move ensures a continuous and reliable capacity flow for their network from 2026 to 2030. Boulos emphasized that this investment not only supports operational efficiency but also equips Maersk with the competitive tools necessary for future growth and sustainability in the shipping industry.

Maersk has begun securing offtake agreements for liquefied bio-methane (bio-LNG) to ensure that its new dual-fuel gas vessels achieve significant greenhouse gas emissions reductions within this decade. This initiative complements Maersk's earlier announcement of 25 dual-fuel methanol vessels, with 5 already in service and 20 more on order, collectively offering approximately 350,000 TEU of dual-fuel capacity. These efforts reflect Maersk's commitment to advancing sustainable maritime operations and reducing its carbon footprint through innovative fuel solutions and strategic investments.

Ahmed Hassan, Head of Asset Strategy & Strategic Partnerships at Maersk, highlighted that the recent vessel orders will maintain the company's fleet size at approximately 4.3 million TEU by replacing aging ships that have reached the end of their operational life. He emphasized that these additions will not increase overall capacity but will enhance fleet diversity and fuel flexibility. This strategy enables Maersk to adapt to various future fuel technologies, driving the industry toward decarbonized ocean transport.