Maersk Confirms 26 LNG Dual-Fuel Ships in Q3 Report
Maersk is adding a large block of new tonnage to its pipeline. In its third-quarter results the Danish carrier confirmed 26 LNG dual-fuel container ships with a combined 483,600 TEU, or nearly 484,000.
Good profits now, ships later
TEU is the standard yardstick for container capacity, based on one twenty-foot box. At 18,600 TEU each, the new ships together equal roughly 10% of the carrier's existing operating fleet. Maersk first confirmed the order in September.
Scarce vessels, crowded ports and higher freight rates are helping Maersk's ocean business, and the order lands in the middle of that. Third-quarter operating profit reached $2.6 billion, against $567 million a year earlier. Fleet utilisation hit 96%.
The new vessels come much later. Deliveries are scheduled for 2029 and 2030.
Does the fleet grow?
MSC, CMA CGM and COSCO are also putting money into new ships. Maersk has said the renewal programme is meant largely to replace older ships rather than to enlarge the fleet for good.
The outcome depends partly on what happens to existing tonnage. Some of it may be retired. Some may go back to the owners who charter it to Maersk, meaning ships the carrier rents rather than owns.
From methanol to LNG
For years Maersk was among the most prominent champions of methanol in shipping. Its newbuilding choices have since shifted toward LNG-capable engines. In 2024 it ordered 20 dual-fuel vessels totalling 300,000 TEU, fitted with liquefied gas dual-fuel engines.
A dual-fuel engine can burn more than one fuel. These ones can run on conventional marine fuels or on liquefied natural gas. They could also make a later move to lower-emission options such as bio-LNG easier, if supplies develop. Maersk argues the energy transition needs several fuel pathways, not a single answer.
Ports help explain the choice. A recent Lloyd's Register study counted LNG bunkering at 222 ports worldwide. Only 25 ports offered methanol.
The February order for comparison
In February Maersk agreed to buy eight 18,600-TEU ships from New Times Shipbuilding in China, also for delivery in 2029 and 2030. Each is 366 metres by 58.6 metres, which puts them below the 24,000-TEU ships that competitors are building. Anda Cristescu, Maersk's Head of Chartering and Newbuilding, said at the time: "Deployment flexibility has been a key factor in our decision-making."
Price and yards
Maersk has not made public what the contract is worth or which yards will build the 26 ships.
Source: gCaptain