Maersk Nears Order for Up to 24 Megamax Container Ships Worth About $5.5 Billion

Maersk is nearing an order for up to 24 dual-fuel megamax container ships, valued at nearly $5.5 billion, according to the World Ports Organization citing TradeWinds. The vessels are split under a 12+12 format between China's Hudong-Zhonghua Shipbuilding and Hengli Heavy Industry.

The price per vessel is estimated at around $229 million, according to the source. Each vessel has a capacity of up to 24,000 TEUs, a standard unit for measuring container capacity.

Neither Maersk nor the two Chinese shipbuilders have announced a final date for the signing. If concluded, the order will boost Maersk's transport capacity on long-haul routes and strengthen the presence of large dual-fuel vessels in its fleet.

The size of the order highlights a trend among shipowners toward larger and more fuel-efficient units, which could impact available transport capacity and freight rates on key trade routes over the coming years.

What do these terms mean?

Ultra-Large Container Ship: A ship designed to carry thousands of containers per voyage, used on long intercontinental routes to lower transport costs per container.

Dual-Fuel: A propulsion system that allows a vessel to use two types of fuel, such as liquefied natural gas (LNG) and diesel, to reduce emissions and decrease reliance on a single fuel source.

Twenty-Foot Equivalent Unit (TEU): A measure of container capacity where one standard 20-foot container equals one unit, used to compare ships and ports.