The maritime industry witnessed a significant surge in the number of liquefied natural gas (LNG)-powered vessels in 2024, as reported by DNV, an assurance and risk-management group. According to DNV’s Alternative Fuels Insights (AFI) platform, a total of 515 alternative-fueled ships were ordered, marking a 38% increase from the previous year. This growth underscores the industry’s increasing commitment to decarbonization, with the number of LNG-fueled ships in operation doubling between 2021 and 2024, reaching a total of 641 by the end of 2024. DNV predicts that this number will double again by the end of the decade.
In addition to LNG, shipowners in 2024 also showed interest in other alternative fuels, with 166 methanol orders added to the AFI orderbook. This diversification in fuel choices reflects the industry’s efforts to reduce greenhouse gas emissions. The container segment saw the highest number of methanol orders, with 85 ships opting for this alternative fuel. The industry’s embrace of multiple alternative fuels highlights a broader shift towards sustainability and environmental responsibility.
The growth in LNG-powered vessels is further illustrated by a record number of deliveries in 2024, totaling 169 ships. This trend is expected to continue, with DNV projecting a continued increase in LNG-powered ships in operation in the coming years. The maritime industry’s adoption of LNG and other alternative fuels signals a transformative shift towards cleaner and more sustainable shipping practices, aligning with global efforts to combat climate change and reduce carbon emissions.
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