Methanol-Fueled Ship Orders Surge in July

A total of 62 alternative-fueled vessels were ordered in July, including a record number of methanol-fueled ships, according to the latest figures from DNV’s Alternative Fuels Insight (AFI) platform.

Last month saw a record 48 new methanol-fueled ships added to the AFI platform, including 15 retrofits.

The LNG-fueled newbuild orderbook continues to climb with 14 newbuilds ordered in July. DNV noted that July orders brought the total number LNG-fueled crude oil tankers on order past the 100 mark, of which 65 already in operation.

Martin Wold, Principal Consultant in DNV’s Maritime Advisory business, highlighted the growing number of methanol-fueled ship orders and retrofits. June saw 29 methanol ships added to the AFI platform, including retrofits.

“Beating last month’s record by a solid margin, orders for methanol-powered vessels have now jumped past the 200 mark,” said Martin Wold, Principal Consultant in DNV’s Maritime Advisory business. “The significant number of new confirmed orders and retrofits for methanol coincides with the delivery of the world’s first methanol fueled container vessel and the signing of the first bunker supply agreement for green methanol for ships.”

July’s numbers bring the total number of alternative-fueled vessels ordered this year to 190, with LNG and methanol leading the charge. The majority of alternative-fueled vessels are containerships, constituting about half of the LNG-fueled orders and 80% of the new methanol-fueled orders, DNV said in in its June report.