Methanol is the most popular choice for more than half the 23 alternative-fuelled newbuildings contracted in April, and accounts for most of the dual-fuelled orders this year, according to DNV.
The classification society’s monthly summary from its AFI platform records 12 methanol-fuelled vessels ordered in April, all of which were tankers.
The uptake of alternative fuels has previously been low for this segment, DNV said in a note.
Methanol has been selected for the largest share of alternative-fuelled newbuildings so far this year, with new orders totalling 47 vessels, according to DNV global decarbonisation director Jason Stefanatos. This represents a 42% increase compared to the same period in 2023.
The AFI database gives the total number of methanol-fuelled vessels as 281, comprising 33 existing ships and 248 on order.
DNV logged seven orders for LNG-fuelled newbuildings during April.
The AFI database shows the LNG-fuelled fleet at 1,044 vessels of which 535 are trading and 509 are on order.
“The momentum for ammonia continues, with four ammonia-fuelled vessel orders confirmed,” the class society added.
DNV detailed that a total of 93 new orders for alternative-fuelled vessels were added to its database in the first four months of 2024, representing a growth of 48% compared with the same period in 2023.
Stefanatos said: “With the slow activity of March now behind us, these numbers for April confirm an increasing shift in the new order market towards alternative-fuelled vessels, with a notable surge in new orders from the tanker segment.”
He added: “It is also notable that four new orders have been placed for ammonia-fuelled vessels, on top of the five ordered in the first quarter of 2024.
“Although we still have a long way to go before a maritime ecosystem for ammonia is fully developed, this provides more evidence that investment in these vessels is on the rise.”
