"Besides ordering new ships for expansion, we have no other choice." — CMA CGM, the world's third-largest container shipping company, is accelerating its green fleet development with the goal of surpassing Maersk and securing the global No. 2 spot.

Recently, CMA CGM officially signed an order with Dalian Shipbuilding for the construction of 10 LNG dual-fuel 22,000 TEU ultra-large container vessels. The new ships are scheduled for delivery between 2028 and 2029, with a unit cost of approximately $210 million and a total transaction value of around $2.1 billion (approximately RMB 15.619 billion).

Last week, Dalian Shipbuilding announced that it had secured an order for 10 dual-fuel ultra-large container vessels from a European shipowner, further solidifying its leading position in the construction of large clean-energy vessels. Although Dalian Shipbuilding did not disclose the shipowner's identity at the time, it is reported that the order came from CMA CGM. Clarksons' data indicates that all 10 vessels will be built by DSIC Tianjin.

For reference, Clarksons' data shows that the current newbuilding price for a 22,000/24,000 TEU LNG dual-fuel container vessel is approximately $271 million, slightly lower than the $273 million recorded during the same period last year.

According to industry sources, CMA CGM's new vessels may adopt Type C fuel tanks instead of the commonly used membrane-type tanks. This adjustment could save about $15 million per vessel in construction costs.

This order sets a new record for Dalian Shipbuilding in container vessel construction. According to Clarksons, the largest container vessels delivered by Dalian Shipbuilding to date are two 20,000 TEU vessels built for COSCO Shipping Group — the COSCO Shipping Gemini and COSCO Shipping Libra — delivered in 2018. These vessels were originally conventional-fuel-powered but have since been retrofitted to methanol dual-fuel propulsion.

CMA CGM is a long-standing client of Dalian Shipbuilding. As early as 2022, the shipyard secured CMA CGM's first order for six 15,000 TEU methanol dual-fuel container vessels. This order marked CMA CGM's first venture into methanol dual-fuel vessels and Dalian Shipbuilding's first construction of methanol-powered container ships. These six vessels are expected to be delivered successively this year and next.

The latest order represents CMA CGM's first ultra-large container vessel order exceeding 20,000 TEU in two years and its third major container vessel order this year. Earlier this year, CMA CGM placed orders for 12 18,000 TEU LNG dual-fuel container vessels with HD Korea Shipbuilding & Offshore Engineering and Jiangnan Shipbuilding.

Including the latest order, Alphaliner data shows that CMA CGM currently has 132 new vessels on order, with a total capacity exceeding 1.8 million TEU, ranking second globally behind MSC's 122 vessels and 2.15 million TEU. Once all current orders are delivered, CMA CGM is set to surpass Maersk and become the world's second-largest container shipping company. 

CMA CGM's Chief Financial Officer, Ramon Fernandez, stated that by 2029, the company is expected to operate over 160 dual-fuel vessels. When including both owned and chartered ships, its dual-fuel fleet will exceed 200 vessels.

Fernandez explained that CMA CGM's extensive newbuilding program is "not solely for market share." He emphasized, "The new vessels we are ordering are all dual-fuel ships. The entire shipping industry must collectively advance decarbonization, and we can only achieve this by operating green vessels. Older ships must be replaced by vessels powered by low-carbon alternative fuels—there is no other choice."

As one of the container shipping companies investing most heavily in dual-fuel vessel orders, CMA CGM has set a target to achieve net-zero emissions by 2050. In 2024, the company took delivery of 12 newly built LNG dual-fuel container vessels. According to data released in CMA CGM's full-year 2024 financial report, the company has invested nearly $20 billion (approximately RMB 141.991 billion) in ordering 153 dual-fuel vessels. These new ships, capable of operating on low-carbon fuels such as biomethane, biomethanol, and synthetic fuels, will be delivered progressively by 2029.