Maersk Completes Fleet Revitalization Plan Ordering 20 Owned Newbuilds

Maersk confirmed that it has placed a series of orders for 20 newbuilds that will be the owned portion of its fleet revitalization plan first announced in August 2024. In addition, the carrier reports it has finalized charter contracts across several tonnage providers for the remaining portion of the strategy.

The company detailed a strategy for replacements with a goal of maintaining its total capacity of approximately 4.4 million TEU, unlike other carriers that are executing fleet capacity expansion efforts. Alphaliner calculates Maersk currently owns about 330 vessels and has a further 387 on charter.

Today’s announcement confirms orders for 20 dual-fuel vessels with a total capacity of 300,000 TEU. Deliveries are set between 2028 and 2030 with the majority of the orders going to Chinese shipbuilders as well as six vessels from South Korea’s Hanwha Ocean.

“These orders are a part of our ongoing fleet renewal program and in line with our commitment to decarbonization, as all the vessels will have dual-fuel engines with the intent to operate them on lower emissions fuel,” said Anda Cristescu, Head of Chartering & Newbuilding at Maersk. “Due to their different sizes, the vessels will be able to fill many roles and functions within our future network and give us a lot of deployment flexibility when they are ready to enter our fleet. Once phased in, they will replace existing capacity in our fleet.”

In August, the company said the split of propulsion technologies would be determined considering the future regulatory framework and green fuels supply. Its executives have repeatedly pointed to the high cost of alternative fuels calling for support to encourage the industry transition as well as the need to build supply for alternative fuels. While saying the strategy would be a mix of methanol and liquified gas dual-fuel propulsion systems, today’s announcement only highlighted liquified gas propulsion.

The orders are split with the largest capacity vessels being six 17,000 TEU vessels to be built in China at Yangzijiang Shipbuilding and 12 vessels each with 15,000 TEU capacity split evenly between Hanwha Ocean and New Times Shipbuilding. Maersk also ordered two smaller 9,000 TEU vessels from Yangzijiang Shipbuilding. No value was announced for the total orders.

In addition, Maersk previously ordered a total of 25 dual-fuel methanol vessels. Last week, it named the ninth vessel in honor of its founder A.P. Møller. The methanol portion of the fleet will have a total capacity of around 350,000 TEU and will be the first to join the fleet as deliveries continue in 2025. 

The chartered component will add another 500,000 TEU of capacity. The intent is to replace existing capacity with newer, more efficient vessels. 

Maersk’s decision to proceed with the orders using liquid gas follows a similar trend across the shipping industry where LNG remains the favored fuel for orders while methanol challenged but remains in second place. Other fuels such as ammonia remain speculative. 

DNV’s principal analyst Martin Christian Wold who transitioned in October to CEO of DNV’s Ofiniti, a digital fuel supply company, reported in October that LNG topped newbuild orders with “a record 66 vessels ordered, an all-time high, smashing the old record from April 2022 with a solid 31 percent.” Methanol was strong at 29 vessels in October but less than half the LNG orders. For November, DNV’s data shows that 23 of the 27 vessels ordered were also LNG dual fuel. 

Both Maersk and now Hapag-Lloyd have signed large offtake agreements with China’s Goldwind for biofuels for their fleets. The industry however also continues to call for fuel incentives created by the IMO and other regulators to create the mechanisms to support the transition.