A dual loop waste heat recovery power generation system that comprises an upper trilateral cycle and a lower organic Rankine cycle, in which discharged exhaust gas heat is recovered and re-used for propulsion power, was theoretically applied to an internal combustion engine for propulsion in a 6800 TEU container ship. The thermodynamic properties of this exhaust gas heat recovery system, which vary depending on the boundary temperature between the upper and lower cycles, were also investigated. The results confirmed that this dual loop exhaust gas heat recovery power generation system exhibited a maximum net output of 2069.8 kW, and a maximum system efficiency of 10.93% according to the first law of thermodynamics and a maximum system exergy efficiency of 58.77% according to the second law of thermodynamics. In this case, the energy and exergy efficiencies of the dual loop system were larger than those of the single loop trilateral cycle. Further, in the upper trilateral cycle, the volumetric expansion ratio of the turbine could be considerably reduced to an adequate level to be employed in the practical system. When this dual loop exhaust gas heat recovery power generation system was applied to the main engine of the container ship, which was actually in operation, a 2.824% improvement in propulsion efficiency was confirmed in comparison to the case of a base engine. This improvement in propulsion efficiency resulted in about 6.06% reduction in the specific fuel oil consumption and specific CO2 emissions of the main engine during actual operation. (C) 2013 Elsevier Ltd. All rights reserved.