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DNV’s LNG order figures for July show steady increase with big deals in the pipeline

03 Aug 2022

Classification society DNV on Tuesday (2 July) said nine LNG-fuelled vessels were added to DNV’s Alternative Fuels Insight (AFI) platform in July with several big orders of such vessels in the pipeline. 

This brings the total order figure to 162 for the year to date. So far this year the growth in LNG-fueled vessels has been driven by containers and car carriers, constituting 51 % and 25 % of the orders respectively.

Commenting on the figures, Martin Wold, Principal Consultant in DNV’s Maritime Advisory business, said: “Although the growth in orders has slowed down somewhat in line with the general newbuild ordering activity, there are several large orders in the pipeline.”

“It is also encouraging to see some innovative pilot projects hitting the order books, including cruise ships run on liquid hydrogen powered fuel cells. These types of projects are key to driving technology maturity and establishing safety frameworks, and to accelerating the decarbonization of shipping.”

DNV’s LNG order figures for July show steady increase with big deals in the pipeline

In a social media post, Wold elaborated that several announced and rumored big orders remained in the pipeline and congratulated Pacific International Lines (PTE) Ltd, MSC Mediterranean Shipping Company and Furetank for “adding to their already sizable fleets/orderbooks equipped for LNG bunkering.” 

“MSC’s new cruise ships will even feature liquid hydrogen powered fuel cells! This type of pilot project is absolutely key to drive technology maturity and safety framework,” he said. 

He also congratulated North Sea Container Line AS, MPC Container Ships ASA and Topeka for ordering two methanol fueled container feeders.

“Great to see cargo owners such as Elkem ASA take responsibility. Demand for low and zero carbon fuels is slowly building on several fronts now,” said Wold. 

Manifold Times previously reported DNV saying growth in LNG-fuelled ship orders slowed significantly in June but says it is likely to be a “bottleneck rather than a trend”.

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: 3 August, 2022

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