World News
May Saw Dip in Alternative-Fuel Ship Orders: DNV
Alternative-fuelled vessel orders dropped sharply in May, with just 16 new ships booked, according to the latest data from classification society DNV.
The total marks a significant decline from 49 orders in April and 25 in March, pointing to a slowdown in owners' appetite for alternative-capable tonnage during the month.
Out of the 16 vessels ordered in May, half of them were LPG carriers, Kristian Hammer, product manager AFI and senior consultant at classification society DNV, said in a LinkedIn post on Monday.
LNG-fuelled ship orders also saw a marked decline, falling to six in May from 20 in April.
Four of the LNG-powered vessels were in the container segment, while the remaining two were cruise ships.
Despite the overall slowdown, interest in LNG bunkering vessels appears to be picking up. Two LNG bunker ships were ordered in May, matching April's total and continuing a modest upward trend in LNG bunkering infrastructure.
A total of 136 alternative-fuelled vessel orders were placed in the first five months of 2025, slightly trailing the 150 recorded over the same period last year.
"Nonetheless, with the overall newbuild market considerably slower this year, this represents a strong performance, demonstrating the robust nature of the alternative-fuelled space in the face of market uncertainty," Hammer noted.
Two methanol-fuelled vessels were ordered in May – both from the tanker segment.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.50 | 0.00 | 715.50 | 13.50 |
| Rotterdam | 532.00 | 4.50 | 739.00 | 3.00 |
| Houston | 546.50 | 8.50 | 740.00 | 27.00 |
| Fujairah | 560.00 | 1.00 | 777.00 | 10.00 |
| Global 20 Ports Average | 588.00 | 1.00 | 805.00 | 13.00 |
| Global 4 Ports Average | 552.00 | 1.00 | 743.00 | 13.00 |
| Global Average Bunker Price | 619.00 | 2.50 | 835.50 | 3.00 |
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