Surge in Alternative Fueled Vessel Orders Driven by LNG

In November 2024, DNV’s Alternative Fuels Insight (AFI) platform reported a total of 27 new orders for alternative fueled vessels. The primary driver behind these orders was LNG, accounting for 23 vessels, with the container segment leading the way with 15 new orders. Additionally, the car carrier segment saw a strong month with six new LNG-fueled vessels added to the orderbook. Four new orders for ammonia-fueled vessels were also recorded, showing a diverse interest in alternative fuels within the maritime industry.

While November saw a slight slowdown in new orders for alternative-fueled vessels compared to the previous month, which was a record-breaking period, the overall trend remains positive. LNG continues to dominate the headlines, with significant activity since the summer months. The container segment has been particularly active, with the majority of new orders in 2024 being for alternative-fueled vessels. Jason Stefanatos, Global Decarbonization Director at DNV Maritime, highlighted the continued strong interest in alternative fuels within the industry.

Overall, the maritime industry is showing a growing interest in alternative fuels, with LNG leading the way in new vessel orders. The container segment, in particular, has been driving this trend, with a significant number of new orders for alternative-fueled vessels. Despite a slight slowdown in November, following a record-breaking month in October, the industry’s focus on decarbonization and sustainability remains strong. DNV’s AFI platform continues to monitor and report on the latest developments in alternative fuels within the maritime sector.

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