Classification society American Bureau of Shipping (ABS), Singapore’s shipowner Pacific Carriers Limited (PCL) and shipbuilder PaxOcean have agreed to collaborate on developing retrofit strategies to support maritime decarbonization targets.
The parties have firmed up their partnership through a memorandum of understanding (MoU), aiming to address the need for effective energy efficient technologies (EETs) that will enhance the sustainability and operational lifespan of vessels amidst stricter decarbonization targets and an aging global fleet.
The partnership intends to focus on identifying effective EETs for vessel types such as bulk carriers, tankers, container ships, and gas carriers. The partners will also analyze trends in the retrofit market, projecting medium-term (3-5 years) and long-term developments to support informed decision-making.
To achieve these goals, ABS will provide feasibility assessments and technical solutions to align retrofits with future regulations and operational needs. PaxOcean will focus on the technical feasibility and efficient execution of retrofit solutions, while PCL will ensure strategies are practical and cost-effective through operational insights.
Christopher J. Wiernicki, Chairman and CEO of ABS, said: “Retrofit of low carbon and energy efficiency technologies are going to be critical if the global fleet is to meet decarbonization targets. ABS, PCL and PaxOcean bring together world-class technological expertise, a laser focus on safety and a shared innovative mindset to support ship owners and operators to extend the life of their fleets by reducing the carbon intensity of their operations.”
Hor Weng Yew, Managing Director and CEO of Pacific Carriers Limited , added: “As a shipowner, we recognize the importance of aligning operational needs with sustainability goals. We believe retrofitting existing vessels is one of the viable solutions to meeting decarbonization targets while maintaining efficiency. Through this partnership, we aim to share practical, data-driven insights that can drive effective retrofit strategies for the benefit of the entire industry.”
This is not the first time ABS, PaxOcean, and PCL agreed to collaborate on retrofit projects. Back in 2023, the trio signed a joint development project (JDP) to explore the use of methanol for the PCL’s fleet.
In 2024, the shipping industry witnessed several methanol retrofit projects.
One of the projects involved PaxOcean delivering what it claimed to be the world’s first methanol dual-fuel engine retrofit for a containership. Namely, X-Press Feeders’ 1,170 TEU Eco Umande, which was constructed and delivered by New Dayang Shipbuilding in March 2024, was handed over to PaxOcean for a retrofit at Zhoushan yard.
The retrofit included fitting a MAN 5S50ME engine developed by German manufacturer MAN Energy Solutions (MAN ES) as well as a complete methanol fuel system and essential modifications.
A few months later, Maersk Halifax , a 14,000 TEU containership owned by Danish shipping giant A.P. Moller–Maersk, was also converted into a methanol dual-fuel vessel at the Zhoushan Xinya Shipyard in China.