Methanol Emerges as Top Choice for Ships, Followed by LNG and LPG

According to the latest data from DNV’s Alternative Fuels Insight (AFI) platform, methanol is the most popular fuel choice for ships, accounting for 9% of orders, followed by LNG at 7%, LPG at 3%, and ammonia at 1%. The number of methanol-fuelled ships in operation is expected to more than double this year, from 29 to 61, and is projected to reach 257 by the end of 2026. Container ships make up the majority of methanol take-up, with 168 new contracts, followed by oil and chemical tankers, bulk carriers, car carriers, offshore vessels, and roro’s.

Despite the growing popularity of methanol, LNG remains the leading fuel choice, with 493 gas-fuelled ships currently in operation and 523 vessels on order. Additionally, there are over 5,000 ships operating with scrubbers, with the number expected to climb to 5,299 by the end of 2026. There is also a growing interest in ammonia as fuel, with two orders confirmed in January and expectations for continued growth in the future.

The AFI platform, which provides detailed statistics on alternative fuel uptake and interactive maps of fuel-specific bunkering infrastructure, is freely available. Martin Wold, Principal Consultant at DNV, noted the need for significant investment in green methanol production capacity, as most methanol is currently produced from natural gas or coal.

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