DNV: Steady momentum in alternative fueled newbuild orders

Image: DNV

According to the latest figures from DNV’s AFI platform, a total of 17 new orders for alternative fueled vessels were placed in September 2024. LNG was the biggest driver, accounting for nine vessels, with most of these coming from the container segment. The remaining eight orders were for methanol fueled vessels.

Although it was a relatively slow month for alternative fueled vessel orders, it follows the two strongest months of the year in July and August, where 81 and 95 new orders were placed. In both months, LNG was the main fuel of choice, accounting for 53 and 55 new orders respectively. Order uptake continues to be dominated by the container segment, which accounted for around two-thirds of all orders in the third quarter of 2024.

Overall, the steady momentum in the alternative fueled orderbook remains, notes DNV. A total of 370 alternative fuelled vessels were ordered in the first three quarters of 2024, representing year-on-year growth of 24%.

Jason Stefanatos, global decarbonization director at DNV Maritime commented:

“Despite a slow month in September, a broader view confirms that the momentum in the new order market towards alternative fueled vessels remains strong. LNG is clearly the headline story since the summer, accounting for around 60% of all alternative fuelled new orders in the third quarter, mainly thanks to a strong uptake in the container segment.

“Although 49 new orders for methanol fueled vessels were registered in the third quarter, only eight of these were placed in September, demonstrating a slight stagnation.”