Shipping firm AP Moller Maersk has launched a retrofit programme with 50 shipowners, covering about 200 of its time-chartered vessels to improve bunker fuel efficiency.

Common upgrades will include replacing propellers and bulbous bows, as well as installing pre-swirl devices, shaft generators and waste heat recovery systems, Maersk said in a statement on its website on Thursday.

“The main aim of the programme is to reduce the slot cost by improving fuel efficiency and cargo-carrying capacity, leading to a decrease in both cost and greenhouse gas emissions,” it said.

The company has already carried out more than 1,500 retrofit projects and has a further 1,000 underway to be completed by 2027.

Maersk added that the investment cost of these upgrades is being shared with vessel owners.

“Our medium- and long-term chartered fleet makes up a significant proportion of our operations as well as of our total fuel consumption, Ahmed Hassan, head of strategy and strategic partnership at Maersk, said.

“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.”