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DNV: LNG order figures for August provides clear snapshot of alternative fuels trend

05 Sep 2022

Classification society DNV on Friday (2 September) said 13 LNG-fuelled vessels were added to DNV’s Alternative Fuels Insight (AFI) platform in August.

However, the increase on the database will only be 11 additional orders, as the electrification of the Norwegian ferry sector continues evidenced by two more ferries being retrofitted for pure battery operation and thus moved to another category. 

“The total order figure for the year to date has therefore reached 173, with the last month seeing a mix of smaller and larger vessels ordered,” it noted. 

Methanol growth also continues with an order for six large methanol fueled container vessels confirmed in August.

DNV’s LNG order figures for August provides ‘clear snapshot’ of shipping’s alternative fuels trend

DNV’s LNG order figures for August provides ‘clear snapshot’ of shipping’s alternative fuels trend

Commenting on the figures, Martin Wold, Principal Consultant in DNV’s Maritime Advisory business, said: “This month’s update is a perfect snapshot of the current alternative fuels trend, and clear evidence of the diversified fuel mix predicted. Electrification will continue to happen, where technically feasible – meaning for small ships and on short crossings. LNG remains the preferred low carbon solution, despite current gas pricing which we must assume will prevail for some time.”

“We are also witnessing the start of the diversification into methanol fuel on trades where there is sufficient confidence that supply can be made available on a reasonable time scale. For regional and international trading ships, LNG and methanol are likely to be the short- to mid-term preferences going forward.”

Related: DNV’s LNG order figures for July show steady increase with big deals in the pipeline
Related: DNV’s LNG order figures for June show a slowing down with bottleneck pressure building
Related: DNV: 30 more LNG-fuelled ship orders confirmed in May

 

Photo credit: DNV
Published: 5 September, 2022

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