Green Technology & Alternative Fuel Uptake

Clarksons Research have today released their latest Green Technology Tracker, including full year 2024 data points, charting the progress of alternative fuel uptake and investments in energy saving technologies across the global shipping fleet.

Summarizing the latest Tracker, Steve Gordon, Global Head of Clarksons Research, commented: “With overall newbuild order volumes reaching their highest level since 2007, alternative fuel has continued to play a prominent role representing 50% of all tonnage ordered in 2024. Across 2024, we have reported 820 vessels ordered of 62.2m GT involving alternative fuel capability (727 orders of 52.1m GT excluding LNG Carriers), a record level of investment."

There has been a return to LNG dual fuel technology dominating (accounting for 70% of alternative fuelled tonnage ordered excluding LNG Carriers, up from 43% in 2023, with methanol declining to 14% share from 30%). Overall, we have reported orders for vessels capable of using either LNG (390 orders, 297 excluding LNG Carriers), methanol (118 orders), ammonia (25 orders), LPG (72 orders) or Hydrogen (12 orders).
Additionally orders involving “ready” status have increased to around a fifth of all orders (452 orders, 21% of tonnage ordered). Across the fuel types, ammonia and methanol have been prominent as alternative