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Methanol leads LNG in March alternative fuel orders: DNV
Methanol powered vessel Eco Maestro CREDIT: X-PRESS FEEDERS
Apr 04 2025 Shipping News

Methanol leads LNG in March alternative fuel orders: DNV

An average of more than five alternative-fuelled ships were ordered every week through March, according to DNV’s latest Alternative Fuels Insight platform, with methanol clearly in the lead.

The classification society recorded contracts for 25 vessels that are to be built for alternative fuels over the month of March, taking the first quarter tally to 71 orders in total. Twelve ships were ordered for methanol operation, the DNV analysis reveals, with contracts for three cruise ships, three car carriers, one offshore vessel, one bulker, as well as a number of tankers.

The seven contracts for LNG-fuelled vessels were all for container ships. Two ammonia-fuelled contracts were logged as well as four gas tankers that will use LPG as fuel.

Despite the monthly gain of methanol-fuelled contracts, LNG remains far in front. Excluding LNG carriers, there are now about 680 vessels operating on LNG, with almost as many now under construction. There are more than 500 LNG-fuelled boxships either in operation or on order, compared with around. There are around 60 methanol-fuelled ships in operation, with about 340 on order.

DNV notes that the 71-ship total for alternatively-fuelled ships over the first quarter of this year fell below last year’s tally, down by 13% compared with the corresponding quarter in 2024. However, this came against a backdrop of lower contracting levels generally, according to Jason Stefanos, DNV Maritime’s Global Decarbonization Director. “This was another solid month for the alternative-fuelled orderbook, with plenty to be encouraged about,” he declared. “Methanol led the way, accounting for the highest number of new orders, following relatively weak activity over the winter months. Interestingly, these orders were spread across diverse segments … The ordering of two ammonia-fuelled vessels from the tanker segment is also notable. While ammonia still has some way to go as a marine fuel, foundations are being put in place and progress is being made.”

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