The aim of the article is to analyze the possibilities of using coal-water fuel (CWF) instead of residual fuel oil and heavy fuel for ship power plants. The article is dedicated to reviewing the particular features of coal-water fuel burning in ship power plants instead of classically used fuel oil and diesel. There were analyzed the features of the technological process, related to the removal of combustion products. Moreover, the environmental aspects of the new fuel usage were analyzed. The use of CWF has a promising economic effect, because the cost of fuel in terms of its energy performance is significantly lower in comparison with fuel oil and diesel fuel, and also has significant environmental benefits.