DNV study highlights strong retrofit business case for 5,000-TEU containership
The case study was published as part of DNV’s latest Energy Transition Outlook report (Source: DNV)
A hydrodynamic optimisation study has found that a 5,000-TEU containership built in 2013 could reduce fuel consumption by approximately 16% through a package of energy-efficiency retrofits, with the investment potentially repaid within one to four years depending on fuel prices.
The assessment examined a combination of bow modifications, a propeller retrofit and installation of a propeller boss cap fin. Total investment costs were estimated at approximately USD 2.35 million (approximately EUR 2.02 million). The DNV study assumed the vessel would comply with Energy Efficiency Existing Ship Index (EEXI) requirements following completion of the work.
Researchers evaluated the business case using discounted payback periods and cumulative net cash flow calculations based on low-sulphur heavy fuel oil prices recorded in Singapore between January 2024 and April 2026. Fuel-price scenarios ranged from USD 420 per tonne to USD 1,120 per tonne, with the higher figure intended to reflect potential market volatility linked to geopolitical events.
According to the study, carrying out the retrofit package during the vessel's scheduled 15-year drydocking in early 2028, without extending off-hire time, would result in a payback period of roughly one to four years. By 2038, the net present value of fuel savings was projected to reach between USD 2 million (approximately EUR 1.72 million) and USD 10 million (approximately EUR 8.60 million), depending on fuel prices.
The study noted that hydrodynamic retrofit projects should normally begin at least six months before a scheduled drydocking. It added that, with adequate planning, installation can usually be completed during a routine renewal drydocking, although schedule contingencies should be included to accommodate resource availability, project coordination and shipyard planning requirements.
