LNG Jumps Ahead of Methanol Fuel in Latest Vessel Ordering

According to the latest figures from DNV’s AFI platform, 21 LNG alternative fueled vessels were added to the database in August. It was the second strongest month for LNG orders in over a year. September saw continued growth with eight LNG fueled vessels in the orderbook.

LNG container vessels represent the larger share of newbuilds in August and September with car carriers and tankers not far behind. There are currently 978 confirmed LNG fueled ships on order or in operation.

After a record month for methanol orders in July, August saw no new orders. However, things picked up again in September with 12 new methanol vessels in the orderbook. For methanol, the container segment continues to be dominant. However, the first methanol fueled VLCC has been ordered as well as a few orders for methanol fueled bulk carriers. There are currently 216 confirmed methanol fueled ships on order or in operation.

Martin Wold, Principal Consultant in DNV’s Maritime Advisory business, commented: “We see a continuing growth of vessel orders with a strong pipeline for both LNG and methanol. In addition, the interest in ammonia keeps building. Even if we have yet to see the first firm order for a seagoing ammonia fueled ship there is no doubt the interest keeps increasing, and the first order is inching closer.”

There are currently 1149 ships confirmed with battery installations on order or in operation.