Alternative-Fuel Vessel Orders Grow As Overall Newbuild Market Slows
Orders of alternative-fueled vessels continue to grow in 2025, even as the overall newbuild market slows, according to data from risk management company DNV’s Alternative Fuels Insight.
Through the first six months of 2025, new orders for alternative-fueled vessels reached 19.8 million gross tons — topping orders at this point in 2024 by 78%.
LNG is the favored fuel choice in 2025 through June 30, with 87 new vessels ordered totaling 14.2 million gross tons. Methanol follows, with 40 vessels ordered totaling 4.6 million gross tons. Other alternative fuels include hydrogen and ammonia.
“The energy transition is no longer driven solely by first movers,” said Knut Ørbeck-Nilssen, CEO Maritime at DNV. “It’s now being shaped by a second wave of shipowners who are integrating alternative fuels and technologies into their core strategies.”
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