DNV: No new confirmed orders for LNG-fuelled ships in January

Classification society DNV on Monday (5 December) said there were no new confirmed orders for LNG in January, according to the latest DNV’s Alternative Fuels Insight (AFI) platform in November.

“The year has come off to a slow start for orders on alternative fuelled vessels, however February is already looking more promising. And although we saw no new confirmed orders for LNG in January, gas prices have come down to a level where LNG bunkering is for the time being getting more competitive,” Martin Wold, Principal Consultant in DNV’s Maritime Advisory business, said. 

According to the platform, order activity for alternative fuel vessels were muted at the start of the year. January 2023 saw two methanol fuelled bulk carriers ordered.

“Methanol saw a break-through with Cargill getting the first order for two methanol fuelled bulk carrier across the finish line,” Wold said in a social media post. 

Related: DNV: LNG fueled ships led total 2022 orders for ships with alternative bunker fuels
Related: DNV: Container vessels and car carriers constitute two thirds of new LNG-fuelled vessel orders
Related: DNV: LNG order figures for August provides clear snapshot of alternative fuels trend
Related: DNV’s LNG order figures for July show steady increase with big deals in the pipeline
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 February, 2023