Methanol-Fuelled Ship Orders More Than Double LNG in January: DNV

by Ship & Bunker News Team
Friday February 2, 2024

The number of methanol-fuelled ships ordered in January was more than double that of vessels slated to run on LNG, according to the latest figures from classification society DNV.

DNV's AFI platform noted a total of 23 orders of ships capable of running on methanol last month, versus ten for LNG, the company said in an emailed statement.

About 70% of the methanol ship orders were in the container segment, while car carriers and tankers made up the bulk of the LNG orders.

"Strong new order activity continues to demonstrate a promising trajectory in the uptake of alternative fuel vessels," Martin Wold, principal consultant in DNV's Maritime Advisory business, said in the statement.

"As the data shows, the orderbook for methanol fueled ships continues to grow rapidly.

"There are now 228 confirmed methanol-fueled ships on order, which will significantly expand the current global fleet of 29 over the coming years.

""Meanwhile, the LNG fleet has expanded to the point where we now observe a doubling of the number of LNG-fueled ships in operation between 2021 and 2024, bolstered by a record number of deliveries in January.

"Interest in ammonia is also on the rise, with two orders confirmed in January,  and we expect this to continue to grow in the months and years ahead."