LPG vessel orders lead May’s alternative fuel tally – DNV

Liquefied petroleum gas (LPG)-capable vessel orders took a surprise lead last month, accounting for eight of the 16 alternative fuel-capable ship orders recorded in DNV’s database.

CHART: Alternative-fuelled vessel order landscape in May 2025. ENGINE, DNV

The global fleet now includes 130 LPG-capable vessels, made up of 128 pure LPG carriers and two LPG/ammonia gas carriers. A further 92 vessels are on order for delivery by 2028, comprising pure LPG carriers (69) and LPG/ammonia gas carriers (23).

Beyond LPG, six liquefied natural gas (LNG)-capable vessel orders and two methanol-capable vessel orders were recorded in May, DNV senior consultant Kristian Hammer said in a social media statement.

There are now a total of 736 LNG-capable vessels in operation and another 624 are scheduled for deliveries through 2033. For methanol, the current fleet stands at 65 vessels, with 366 more on order for delivery towards 2030.

Ammonia remains a no-show

There were no new ammonia-capable vessel orders in May, continuing the dry spell from April.

Ammonia’s broader bunker fuel landscape remains unchanged from last month, with three ammonia-capable vessels in operation and 37 more on order for delivery through 2029.

“A total of 136 orders for alternative-fuelled vessels have been placed in the first five months of 2025, slightly behind the 150 orders from the first five months of 2024,” Hammer said.

“Nonetheless, with the overall newbuild market considerably slower this year, this represents a strong performance, demonstrating the robust nature of the alternative-fuelled space in the face of market uncertainty,” he added.

By Konica Bhatt

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