World News
Over 500 Alternative-Fuelled Vessels Ordered in 2024
A total of 515 alternative-fuelled vessels were added to DNV’s Alternative Fuels Insight (AFI) database in 2024, representing a 38% increase compared to 2023.
LNG newbuild orders accounted for a major chunk of it, accounting for about 51% of alternative-fuelled vessel orderbook in 2024. A surge in orders from container lines in the second half of 2024 drove the LNG-fuelled vessel orderbook, Kristian Hammer, product manager AFI & senior consultant at DNV, said in a LinkedIn post on Friday.
Container lines such as AP Moller-Maersk placed several orders for dual-fuel LNG boxships in the latter half of last year, marking a shift from its previous strategy of investing in dual-fuel methanol boxships.
12 LNG bunker delivery vessels were delivered last year, bringing the global LNG bunker delivery fleet to 64.
The methanol orderbook also grew, with around 166 methanol-fuelled vessels ordered in 2024 – slightly higher than 2023.
The ammonia-fuelled orderbook had 27 ship added to it, which also included orders from non-gas segments.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 575.00 | 0.50 | 700.50 | 3.50 |
| Rotterdam | 535.00 | 0.50 | 673.00 | 5.00 |
| Houston | 570.50 | 0.00 | 711.00 | 1.00 |
| Fujairah | 569.00 | 1.00 | 755.00 | 0.50 |
| Global 20 Ports Average | 591.50 | 1.00 | 775.00 | 2.00 |
| Global 4 Ports Average | 562.50 | 0.50 | 710.00 | 2.50 |
| Global Average Bunker Price | 630.00 | 1.00 | 815.00 | 1.50 |
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