According to the latest data from DNV’s Alternative Fuels Insights (AFI) database, as posted on LinkedIn by Jason Stefanatos, Global Decarbonization Director, DNV, May brought forth a wave of optimism with 33 new orders for alternative-fueled vessels.
This surge pushes the tally for the year to 127 orders, marking a substantial 55% increase compared to the same period in 2023, according to DNV data. At the forefront of the orderbook is methanol, stealing the spotlight with a whopping 23 new orders in May alone. Notably, the container segment led the charge with ten orders, followed closely by bulker carriers with five and car carriers with four.
In 2024, the AFI database has already recorded a staggering 70 new orders for methanol-fueled vessels, constituting a remarkable 56% of all alternative-fueled vessel orders this year.
While methanol dominates the orders, other alternative fuels are also making waves. LNG-fueled vessels, though fewer in number with eight new orders, are still a part of the narrative, signaling continued interest and investment in this sector.
Not to be outdone, the momentum for ammonia as a viable fuel source is steadily building. Two new orders for ammonia-fueled vessels in May bring the year’s total to 11, a significant leap from the mere two orders seen in all of 2023.
