A.P. Moller-Maersk is retrofitting around 200 vessels in its time-chartered fleet through a programme involving 50 different shipowners, the Danish shipping company announced on October 2.

The initiative aims to reduce slot costs by improving fuel efficiency and cargo-carrying capacity, which Maersk says will decrease both operational costs and greenhouse gas emissions.

"Our medium- and long-term chartered fleet makes up a significant proportion of our operations as well as of our total fuel consumption. By working closely with our partners, we aim to implement solutions that not only reduce emissions but also enhance the overall competitiveness of our fleet," commented Ahmed Hassan, head of asset strategy and strategic partnerships at Maersk.

The programme forms part of Maersk's target to achieve a 35% absolute reduction in its scope 1 greenhouse gas emissions by 2030 compared to the 2022 baseline year. The company has set a longer-term goal of net-zero emissions by 2040.

According to Maersk, it has executed more than 1,500 individual projects across 200 vessels with 50 shipowners, with an additional 1,000 projects scheduled for completion by 2027. Investment costs are split between Maersk and the vessel owners.

"We have from experience found that this model is a win-win. At Maersk, we can reduce both emissions and fuel costs, while the owners get the long-term value of a modernised vessel," Hassan remarked.

The retrofit solutions vary across different vessel sizes and configurations. Common modifications include propeller replacements and bulbous bow installations, which reshape water flow around the hull to reduce drag and enhance hydrodynamic efficiency.

Anda Cristescu, head of chartering and newbuilding at Maersk, explained: "Many of these ships were designed and constructed at a time when container vessels in general were sailing at faster speeds. To bring down fuel consumption, we have over the years introduced less compressed vessel schedules, but the propellers and bulbs optimised for faster speeds have been kept."

Other retrofit measures include auxiliary engine waste heat recovery systems for steam production and shaft generator systems to reduce auxiliary engine usage. The company is also enhancing cargo-carrying capacity through structural improvements such as elevating wheelhouses, raising lashing bridges, and strengthening deadweight capacity for deeper drafts.