Methanol turned out to be the most popular alternative fuel

January 9 2024

According to DNV statistics collected on the Alternative Fuels Insight (AFI) platform, shipyards around the world received orders to build a total of 298 alternative fuel-powered ships in 2023, up 8% from the previous year. 

In July 2023, IMO set tough standards for the shipping industry to reduce greenhouse gas emissions, so shipowners are looking at different ways to decarbonize their operations. The number of ships capable of operating on alternative fuels ordered in 2023 has reached almost a quarter of the total number of contracts (1,281 ships).

Methanol was the most popular alternative fuel in 2023 by a small margin, with 138 methanol-fuelled ships ordered last year (excluding methanol tankers). In 2022, only 35 such vessels were ordered. These were mainly container ships (106), bulk carriers (13) and vehicle carriers (10).

Liquefied natural gas (LNG) took second place in popularity in 2023: 130 vessels versus 222 units in 2022. If we look only at new ship orders, LNG will lead the way as a significant portion of methanol engine orders come from existing ship retrofit projects. Last year, LNG finally broke the 1,000-vessel barrier (excluding LNG tankers), demonstrating the continued importance of this marine fuel in the energy transition. In 2023, the most common LNG-powered vessels were container ships (48), specialized imported vehicle carriers (40) and tankers (30).

The first contracts for the construction of 11 ammonia-powered ships were signed last year. 

Compared to 2022 (18 units), hydrogen became a less common alternative fuel with only five such orders in 2023.

Martin Wald, chief consultant at DNV’s maritime consultancy, believes that the explosive growth in the construction of such vessels has been mainly in the container and vehicle carrier segments. He is not sure whether this trend will continue in 2024.

Source: https://portnews.ru/news/358219/