Methanol-Fueled Ship Orders Surge in July

In July, a total of 62 vessels powered by alternative fuels were ordered, with methanol-fueled ships reaching a record number, according to the latest data from DNV’s Alternative Fuels Insight (AFI) platform. Of these, 48 were newly ordered methanol-fueled ships, including 15 retrofits. The orderbook for LNG-fueled vessels also continued to grow, with 14 new orders in July. DNV noted that this brings the total number of LNG-fueled crude oil tankers on order to over 100, with 65 already in operation.

Martin Wold, Principal Consultant in DNV’s Maritime Advisory business, highlighted the increasing number of orders and retrofits for methanol-fueled ships. The AFI platform saw the addition of 29 methanol ships in June, including retrofits. Wold noted that methanol-powered vessel orders have now surpassed the 200 mark, with new orders and retrofits coinciding with the recent delivery of the world’s first methanol-fueled container vessel and the signing of the first bunker supply agreement for green methanol for ships.

The total number of alternative-fueled vessels ordered this year has now reached 190, with both LNG and methanol leading the way. Of these orders, container ships make up the majority, representing around half of the LNG-fueled orders and 80% of the new methanol-fueled orders, as stated in DNV’s June report.

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