Alternative fuel vessel orders slow down in March – DNV
“Following sky-high alternative fuels new orders in January and February, slightly slower activity was registered in March”, DNV’s senior consultant, Kristian Hammer said.
PHOTO: Model of ammonia-fuelled bulk carrier. Samsung Heavy Industries
Only five new vessel orders with alternative fuel-capable propulsion were added to classification society’s DNV’s alternative fuel Insights (AFI) database in March.
DNV’s latest tally shows that there are now 16 confirmed ammonia-capable vessels on order for delivery towards 2027, up from 14 last month. One order is a retrofit project, while 15 others are newbuilds, according to AFI database.
14 ammonia-powered vessels are scheduled for delivery by 2026 and the remaining two for the subsequent year. Bulk carriers (10) account for the largest share of these orders, followed by gas tankers (3), tugboats (2), and container ship (1), the database shows.
“Momentum for ammonia continues, with two additional orders bringing the total to five for the first three months of 2024, a clear signal that investment in ammonia is on the rise,” Kristian Hammer said in a social media post.
Only two new orders for methanol-capable vessels were added to DNV's database in March, Hammer reported. This is a significant decline compared to 10 orders in February and 23 in January.
There are now 269 confirmed methanol-capable vessels in operation (33) and on order for delivery towards 2028 (236), according to AFI database. The largest share of methanol-capable vessels on order and in operation are container ships (169), followed by tankers (41), bulk carriers (19) and car carriers (14), according to DNV's latest update.
The number of LNG-capable vessel orders dropped even further in March, falling to just one from 17 in February. There are now 1,034 confirmed LNG-capable vessels in operation (520) and on order for delivery towards 2028 (514).
By Konica Bhatt
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