DNV: LNG and Methanol-Fueled Pipeline Continues to Expand

The pipeline of ships ordered with alternative fuel options continues to expand with LNG and methanol leading the charge.

A total of 21 LNG-fueled vessels were ordered in August, making it the second strongest month for LNG orders in over a year, according to the latest figures from DNV’s AFI platform.

Continued growth was seen in September, with eight LNG-fueled vessels added to the orderbook.

After a record month for methanol orders in July, there were no new orders in August. However, September saw a resurgence with 12 new methanol vessels in the orderbook.

In August and September, LNG-fueled containerships accounted for the majority of newbuilds, followed closely by car carriers and tankers. In the case of methanol, the container segment remains dominant. However, orders for methanol-fueled VLCCs and bulk carriers have also been placed.

“We are witnessing ongoing growth in vessel orders, with a strong pipeline for both LNG and methanol,” said Martin Wold, Principal Consultant in DNV’s Maritime Advisory business. “Additionally, interest in ammonia is steadily increasing. Although we have yet to see the first confirmed order for a seagoing ammonia-fueled ship, there is no doubt that the interest continues to grow, and the first order is getting closer.”

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