DNV: Methanol-fueled ships continues to outperform orders for LNG in April
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Latest figures from DNV’s Alternative Fuels Insight (AFI) platform in April saw a total of 23 new orders for alternative fueled vessels were registered.
The largest part of these were methanol-fueled, which were 12 ships, continuing to outperform orders for LNG-fueled vessels, where seven new orders were placed in April.
“Interestingly, all of the methanol orders come from the tanker segment, where the uptake of alternative fuels has been low up to now. The momentum for ammonia continues, with four ammonia-fueled vessel orders confirmed,” DNV said in a statement.
Following a quiet month in March, these strong figures confirm the overall trend of a steady increase in new orders for alternative fuels. A total of 93 new orders have been added to the AFI database in the first four months of 2024, representing a growth of 48% compared to the first four months of 2023.
Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “With the slow activity of March now behind us, these numbers for April confirm an increasing shift in the new order market towards alternative fueled vessels, with a notable surge in new orders from the tanker segment.”
“Methanol continues to have the highest number of orders so far in 2024, with new orders totaling 47 – a 42% increase compared to the same period in 2023.”
“It is also notable that four new orders have been placed for ammonia fueled vessels, on top of the five ordered in the first quarter of 2024. Although we still have a long way to go before a maritime eco-system for ammonia is fully developed, this provides more evidence that investment in these vessels is on the rise.”
Photo credit: DNV
Published: 3 May 2024
