#Singapore #Seaspan Corporation #Maersk #Ship Modernization

Enhancing Fleet Efficiency: Seaspan and Maersk's Strategic Modernization Initiative

In a significant development in maritime logistics, Seaspan Corporation Pte. Ltd. and A.P. Moller - Maersk have strengthened their strategic partnership aimed at improving fleet efficiency through an extensive ship modernization initiative. This collaboration marks over 20 years of working together, underscoring both companies' commitment to innovation and sustainability in the shipping industry.

As part of this comprehensive operational efficiency program, the two companies will focus on 18 long-term chartered vessels. The initiative is anticipated to yield measurable improvements in energy efficiency, loading capacity, operational flexibility, and reduced emissions. Indeed, this modernization program represents one of the most substantial upgrades ever attempted for the jointly operated fleet chartered by Seaspan and Maersk.

Among the modernization efforts planned, an influential upgrade includes the installation of a shaft generator, which will significantly reduce fuel consumption from auxiliary engines. Additionally, the main engine's performance will be optimized, and a new high-efficiency propeller, along with a pre-swirl device, will be introduced to enhance propulsion efficiency. The project also addresses future emissions regulations by incorporating carbon capture infrastructure.

Moreover, modifications to the vessel design will include raising the bridge deck to increase loading capacity and enhancing deadweight tonnage for improved cargo capacity. Collectively, these modernization measures are projected to lower the vessel's slot cost by approximately 10% to 13%, while simultaneously enhancing energy performance, operational compliance, and regulatory adherence.

The modernization of the 18 vessels, which includes both completed upgrades and future investments, amounts to an estimated total of $75 million. Additional initiatives are already underway to support ongoing decarbonization and enhance operational performance further.

In this initiative, Seaspan’s strategic partner, WattSpan—operating in a joint venture focused on maritime technology and engineering—joined Maersk and COSCO Shipyard in signing a non-binding memorandum of cooperation. This agreement establishes a one-year framework for collaboration on vessel modernization, energy efficiency enhancements, and maritime decarbonization technologies. The partnership will not only foster collaborative development but will also enable comprehensive data sharing and the implementation of future projects through distinct commercial agreements.

Dimitrios Panagopoulos, Fleet Operations Director at Seaspan, emphasized the value of such partnerships, stating, “This collaboration exemplifies the type of impactful joint efforts necessary for advancing decarbonization across the maritime sector. By closely collaborating with Maersk, WattSpan, and COSCO Shipyard, we blend technical expertise, operational knowledge, and long-term investment to enhance the performance of our vessels, while also preparing our fleet for future fuel types and technologies.”

Anda Cristescu, head of chartering and ship construction at Maersk, noted Seaspan's long-standing significance as a reliable partner, stating that the collaboration seeks improvements to reduce fuel costs, lower greenhouse gas emissions, and enhance loading capacity, all factors critical to maintaining fleet competitiveness.

About Seaspan Corporation Pte. Ltd.

Seaspan stands as a leading global provider and operator of maritime assets, specializing in long-term fixed-rate charters for some of the world's most prestigious shipping companies. As of March 31, 2026, Seaspan's service fleet consisted of 247 ships, with projections indicating a total fleet capacity of approximately 2.5 million TEUs once all vessels including new constructions are delivered.

About A.P. Moller - Maersk

A.P. Moller - Maersk is a prominent integrated logistics company dedicated to connecting and simplifying customer supply chains. As a global leader in logistics services with operations in over 130 countries, the company employs around 100,000 individuals worldwide. This collaboration with Seaspan exemplifies its relentless drive for innovation and efficiency in the global shipping landscape.