LPG outpaces LNG in May vessel orders - DNV

LPG dominated the May orderbook with 26 newbuild orders, compared to just eight orders for LNG-capable vessels, according to DNV senior consultant Kristian Hammer.

LPG-capable orders in DNV's AFI database increased by 12 vessels on the month to 26 in May. The LPG-capable fleet currently comprises 168 vessels in operation and 146 on order for delivery through 2030.

LNG-capable orders fell from 20 in April to just eight in May. The LNG-capable fleet stands at 936 vessels in operation, with a further 688 on order for delivery through 2033.

The AFI platform also recorded its first ethanol-capable vessel orders in May, with two bulk carriers added to the tally, Hammer said.

No methanol-capable propulsion orders were recorded during the month. But separate ethanol trials by Maersk (100% ethanol) and X-Press Feeders (10% ethanol blended with 90% methanol) suggest some methanol-capable vessels could potentially operate on ethanol in the future.

No ammonia-capable vessel orders were recorded in May, while the operational fleet remained unchanged at three vessels.

However, the ammonia-capable orderbook increased by one vessel to 47.

Finnish engine maker Wärtsilä has started the ammonia retrofit of an LNG-capable offshore platform supply vessel chartered by Equinor, with delivery expected later this year. The project could account for the for the additional orderbook entry, although DNV has not confirmed this.

By Konica Bhatt

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