DNV: Methanol-powered vessel orders surpass LNG in May

Latest figures from DNV’s Alternative Fuels Insight (AFI) platform showed 19 vessels with alternative fuel propulsion were ordered in May with orders of methanol-fuelled ships surpassing LNG-fuelled vessels.

Out of the 19 vessels, seven were orders for LNG driven vessels and 12 for methanol powered vessels including the first orders for methanol fuel within the car carrier segment.

So far this year, the total order figure for alternative fuel vessels stands at 73. 

Martin Wold, Principal Consultant in DNV’s Maritime Advisory business, said: “In May container vessels and car carriers continued to dominate the orders for ships equipped to use alternative fuels.”

“Following the normalisation of gas prices the LNG bunkering market has now returned to full strength and we see a potential shortage of LNG bunker vessel capacity from 2025, and for some locations and periods this may occur even sooner.“ 

The AFI platform also tracks battery installations for ships, through collaboration with the Maritime Battery Forum, and can report that the official count of orders for vessels with battery power has passed 1000. 

Related: DNV: Alternative-fuelled orderbook likely to decrease with more orders for tankers, bulker
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Related: DNV Alternative Fuels Insight shows ‘significant’ orders for alternative fuel vessels in February
Related: DNV: No new confirmed orders for LNG-fuelled ships in January
Related: DNV: LNG fueled ships led total 2022 orders for ships with alternative bunker fuels

Photo credit: DNV
Published: 5 June, 2023