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DNV: May newbuild orders demonstrate ‘increasing appetite’ for methanol-fueled vessels

Methanol continued to be the biggest driver, accounting for 23 of a total of 33 new orders for alternative fueled vessels in May.

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DNV: May newbuild orders demonstrate ‘increasing appetite’ for methanol-fueled vessels

Latest figures from DNV’s Alternative Fuels Insight (AFI) platform in May saw a total of 33 new orders for alternative fueled vessels were registered.

According to the classification society, methanol continued to be the biggest driver, accounting for 23 of these vessels. Ten of these are from the container segment, along with five bulk carriers, and four car carriers. 

LNG continued to lag behind methanol, with eight new orders registered in May, while two new orders for ammonia fueled vessels reinforce the burgeoning momentum already shown for this fuel in the earlier months of the year.

“These figures further bolster the trend of steady growth in the ordering of alternative fueled vessels in 2024,” DNV said.

So far this year, a total of 127 new orders for alternative fueled vessels have been placed, representing growth of 55% compared to the first five months of 2023.

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Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The momentum in the new order market towards alternative fueled vessels is strong, and this has been reinforced by our May figures.”

“Methanol continues to be the headline story, with 70 new orders for methanol-fueled vessels now placed in 2024.”

“This accounts for 55% of all new orders for alternative fueled vessels in 2024. While this is still far behind LNG in overall terms, these latest figures demonstrate a clearly increasing appetite from the market for methanol-fueled vessels.”

“Two new orders have also been placed for ammonia fueled vessels, bringing the total this year to 11, compared to just two for the whole of 2023. While still clearly in its early stages, this provides further evidence of the emergence of ammonia on the alternative fueled market.”

Related: DNV: Methanol-fueled ships continues to outperform orders for LNG in April
Related: DNV: ‘Quiet month’ of March for alternative fuelled orders, but trend remains strong
Related: DNV: 10 methanol-fueled vessels ordered in February

 

Photo credit: DNV
Published: 4 June 2024

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

 

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

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Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

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ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said. 

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels. 

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

 

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026

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