Clarksons Research’s latest Green Technology Tracker reveals significant progress in the adoption of alternative fuels and energy-saving technologies in global shipping.
According to Clarksons Research, in the first half of 2024, alternative fuel investments accounted for about one-third of all newbuild orders and 41% of the tonnage ordered. Key orders included LNG (109 orders, 51 excluding LNG carriers), methanol (49 orders), ammonia (15 orders), LPG (42 orders), and hydrogen (4 orders).
Although this marks a decline from the 2022 high, it reflects a shift in the types of ships being ordered, with a notable rise in vessels designed for future fuel flexibility, now comprising around 22% of tonnage ordered. Steve Gordon, Global Head of Clarksons Research, highlighted that by the end of the decade, over a fifth of the global fleet capacity is projected to be alternative fuel capable, up from 7% in 2024 and just 2% in 2017.
Despite the advancements, port infrastructure and green fuel availability lag, with limited facilities for methanol bunkering compared to LNG and shore power connections.
Furthermore, energy-saving technologies have been retrofitted on over 8,713 ships, representing 33.5% of fleet tonnage. These include various innovative systems like propeller ducts, rudder bulbs, and air lubrication systems.
Additionally, the shipping industry’s global GHG emissions are expected to rise by approximately 3% in 2024, reaching 1,046 million tonnes of CO2e, driven by increased sea time, higher speeds, and trade growth.
