Powerships are distinct types of floating vessels which are installed with power generating power plant. It is possible to modify an existing ship for power generation or marine vessel on which power plants are installed.

Powerships are basically fitted with a single or several gas turbines, diesel and gas engines, boiler or nuclear reactors for electricity generation. Many newly designed powerships have been converted into auto-propelled energy vessel and can be plugged into national power grids if required.

They are well known among the end-user industry due to their fuel flexibility. They can produce energy through the process of both oil and gas or depending on the availability of fuel and the operating condition of the floating power plant.

The global powerships market is dominated by a few companies such as ABB, General Electric, Karpower and Volkswagen AG. Recently, the Tokyo based Mitsui OSK Lines and Karpower have agreed to develop a partnership for LNG to Powerships project under the brand name “KARMOL”.