Alternative fuels orderbook shows resilience amid overall decline in newbuild market
Jul 2, 2025
Ordering of alternative-fuelled vessels is continuing to grow in 2025, despite a slowdown in the overall newbuild market. According to data from DNV’s Alternative Fuels Insight (AFI) platform, new orders for alternative-fuelled vessels reached 19.8 million gross tonnes (GT) in the first six months of 2025, exceeding the 2024 figure by 78%. This marks a significant shift in capital allocation, as shipowners increasingly prioritise future-ready assets in response to regulatory pressure, fuel availability, and long-term decarbonisation goals.
A total of 151 alternative-fuelled vessels were ordered in the first half of 2025, slightly behind the 179 orders placed during the first six months of 2024. Even so, the overall GT has increased markedly, showing a 78% year-on-year growth driven mainly by activity in the container segment, but with notable orders also in the bulker, tanker and RoPax segments. This concentration suggests that some of the industry’s most commercially exposed and operationally complex segments are now leading the charge, reinforcing the view that alternative fuels are no longer a fringe strategy, but a mainstream investment decision.
LNG was the clear fuel of choice, accounting for 87 new vessels ordered, totalling 14.2 million GT so far in 2025. The fuel remains dominant in the container segment, with 13.6 million GT (81 vessels). Methanol has also shown strong momentum, with 4.6 million GT (40 vessels) ordered across the container, RoPax, tanker, offshore and car carrier segments.
Ammonia and hydrogen, while still niche, continue to register activity, suggesting early-stage confidence in their long-term potential. Three ammonia-fuelled were added to the orderbook, primarily in the tanker and general cargo segments (37.000 GT total). Hydrogen made a return with four vessels (114.000 GT) currently on order, as per a release.
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