Lloyd's Register: Ship Engine Retrofits Market Dependent on Regulatory Framework
Lloyd's Register (LR) states that the future of ship engine retrofits hinges on regulatory developments promoting zero-emission fuels. Despite advancements in retrofit technology, uncertainty in regulations is hindering large-scale conversions. In 2025, few retrofit projects were announced, though technical viability is evident, exemplified by the methanol retrofit of the COSCO Shipping Libra. Engine manufacturers like Wartsila and WinGD are broadening retrofit options. LR emphasizes that clear regulatory signals are crucial for investment and market growth.
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Lloyd's Register (LR) indicates that the future of ship engine retrofits will largely depend on the establishment of a global regulatory framework that encourages the use of zero- and near-zero-emission fuels. Current uncertainties regarding future regulations are delaying significant decisions on large-scale engine conversions.
In 2025, only a few retrofit projects were disclosed, despite noticeable technical advancements. The methanol retrofit of the COSCO Shipping Libra shows that deep-sea conversions are becoming technically feasible.
Engine manufacturers Wartsila and WinGD are expanding their retrofit offerings to include fuels such as LNG and ethanol. LR concludes that the timing and extent of retrofit adoption will be driven by regulatory clarity, which is essential for unlocking substantial investments in the sector.
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