The latest update from DNV’s Alternative Fuels Insights (AFI) database shows that April saw a notable uptick in alternative fuel orders, with the addition of 23 new orders.
According to DNV, this brings the total of alternative fuel orders for the year to 93, marking a significant 48% increase compared to the same timeframe in 2023. Unlike February and March, for the month of April, Methanol leads the pack, with 12 new vessels ordered during the month, followed by LNG with 7 orders.
Notably, all newly ordered methanol fueled vessels were designated for tankers, a sector historically less inclined towards alternative fuels. The database now boasts 47 methanol fueled vessels added in the first four months of the year, reflecting a 42% surge compared to last year’s figures.
Furthermore, despite a smaller starting point, interest in ammonia is on the rise, with four new orders for ammonia fueled vessels recorded in April. This, according to Jason Stefanatos, global decarbonization director at DNV Maritime, builds upon the momentum generated by five new orders in the preceding three months, underscoring a growing enthusiasm for these vessel types.
