DNV sees continuous orderbook growth for LNG- and methanol-fuelled ships
DNV recorded seven new orders for LNG-fuelled ships in May, bringing the total number of LNG-fuelled ships in operation and on order towards 2028 to 911.
PHOTO: Waterfront Shipping’s Cajun Sun became one of the world’s first methanol-fuelled ships when it was delivered in 2016. Here arriving in Antwerp. Methanex
The number of LNG-fuelled ships in operation has increased by 43 to 399 this year. Another 145 are on order for delivery over the remainder of the year.
Crude tankers are the most popular vessel type to install LNG engines on, with 38 in operation now. Looking forward, container ships feature at the top of the newbuild orderbook with 190 ships.
Many of these ships will have dual-fuel engines installed, and the majority of ships capable of burning LNG have instead been burning conventional oil-based fuels like VLSFO and HSFO (with scrubbers), which until recently were cheaper than LNG. But as LNG prices now have come off to competitive levels again, dual-fuel ships will be switching more back to LNG.
Methanol was a more popular future fuel choice than LNG in May, recording 12 ships orders. That boosted the methanol-fuelled ship order count by 9% from April, to 127 in May.
Among the methanol orders were China Merchants Energy Shipping (CMES), which ordered two dual-fuel engines from MAN Energy Solutions for a pair of car and truck carriers. Principal consultant at DNV Martin Christian Wold said the classification society had recorded the first orders for methanol-fuelled car carriers in May.
The classification society went on to say that methanol tankers currently possess the operational experience make up the majority of the global methanol-fuelled fleet. And while grey (fossil) methanol is available for bunkering in major port hubs around the world, the green methanol needed to lighten carbon footprints is so far lacking the investments needed to produce at scale.
Only 26 ships in operation are currently fuelled by methanol, including ships in Waterfront Shipping and Stena Line’s fleets. The global methanol-fuelled fleet is set to double next year, to 59, and then to grow by another 35 ships in 2025 and 31 in 2026, when CMA CGM, Maersk and other container majors have dozens of container ships due for delivery.
By Erik Hoffmann
Please get in touch with comments or additional info to news@engine.online
