Methanol makes a strong comeback in March – DNV

Twelve methanol-capable vessels were ordered in March, “bouncing back from a quiet winter” with zero vessel orders in February, DNV’s senior consultant Kristian Hammer said in a social media statement.

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

“Notably, this [12 orders] has a diverse spread, with ordering segments including tankers (4), car carriers (3), cruise (3), bulk carrier (1), and offshore vessels (1),” Hammer added.

There are now 55 methanol-capable vessels in operation and another 348 on order, with deliveries scheduled through 2030, according to DNV’s database.

The March orderbook totalled 25 vessels. In addition to methanol, it included orders for other fuels such as LNG (7), LPG (4) and ammonia (2).

Currently, LNG dominates the alternative fuel-capable vessel fleet, with 690 vessels already in operation and another 644 on order for delivery through 2033.

Ammonia-capable vessel orders rise

Three ammonia-capable vessels are currently in operation, and two more were ordered in the tanker segment in March. This brings the total orderbook to 33, with deliveries scheduled through 2029, according to DNV’s database.

“While ammonia is still in the early stages of its journey as a maritime fuel, orders like this underline its viability and help to build momentum,” Hammer noted.

By Konica Bhatt

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