2021 LNG-Fuelled Ship Order Count Finishes at Record 240 Vessels

by Ship & Bunker News Team
Wednesday January 5, 2022

A record total of 240 LNG-fuelled ships were ordered last year, according to classification society DNV.

Just two more gas-powered ship orders were made in December in a slow end to the year, but the annual total was still significantly higher than in previous years, the company said in a LinkedIn post on Wednesday.

"The 2021 count ended at a net increase of 240 ships, more than the previous four years combined," Martin Christian Wold, principal consultant at DNV, said in the statement.

"And this in spite of LNG bunker fuel reaching completely unforeseen high price levels all through the second half."

LNG bunker sales at Rotterdam continued to soar last year, with the third-quarter sales of 213,250 m3 topping the 210,334 m3 noted for all of 2020.

But LNG bunker prices went on a record surge last year. LNG priced in fuel oil terms at Rotterdam ended the year at $1,396/mt, according to Ship & Bunker pricing sourced from gas supplier Titan LNG, a rise of 325% from the $328.50/mt seen at the end of 2020 and having hit a record high of $2,053/mt earlier in December.

VLSFO prices at Rotterdam gained 46% to $570.50/mt last year.