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DNV’s LNG order figures for June show a slowing down with bottleneck pressure building

05 Jul 2022

Classification society DNV on Monday (4 July) said growth in LNG-fuelled ship orders slowed significantly in June but says it is likely to be a “bottleneck rather than a trend”. 

According to the latest figures from DNV’s Alternative Fuels Insight (AFI) platform, six vessels were added in June but due to an adjustment of a previously reported CV order, the net growth in June stopped at only two additional vessels. 

This brings the total order figure to 83 for Q2 quarter and 153 for the year so far. Q2 also saw car carriers break through the 100 confirmed ships line and container ships break through the 200 ships line.

Commenting on the figures, Martin Wold, Principal Consultant in DNV’s Maritime Advisory business, said: “Halfway through 2022 the YTD (net) count for new LNG fuelled vessel orders stands at 153. Though we have predicted a slowdown of orders for the remainder of the year, the very low June growth is likely to be a bottleneck rather than a trend. There are many tens of DF (dual-fuel) vessels for which signing is reported to be imminent.”

“Seventy-eight percent of orders for LNG fuelled tonnage this year have been container vessels and car carriers and continued growth this year will depend on newbuild activities in these segments. With an orderbook to sailing fleet ratio of five and 10 respectively for LNG fuelled container vessels and car carriers, it says a lot about the transformation the LNG bunker industry will go through in the next couple of years.”

DNV’s LNG order figures for June show a slowing down with bottleneck pressure building

 

Photo credit: DNV
Published: 5 July, 2022

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