Record Year for Alternative-Fueled Vessel Order with LNG at Forefront, DNV Finds

The 2024 represented an unprecedented year for maritime industry when it comes to orders for alternative-fueled vessels, driven mainly by liquefied natural gas (LNG), according to the latest data from DNV’s Alternative Fuels Insights (AFI) platform.

A total of 515 alternative-fueled such ships were ordered, excluding LNG carriers, representing a 38% year-on-year increase compared to 2023, underscoring the industry's growing commitment to decarbonization.

The growth in alternative-fuelled vessel orders has been heavily driven by the container and car carrier newbuild boom over the last three years.

In 2024, 69% of all container ship orders were for ships capable of being powered by alternative fuels, driven by cargo owners responding to consumer demands for more sustainable practices and liner companies preparing to replace older tonnage.

The preferred fuel choice for this segment was LNG (67%). In total the container and car carrier segments made up 62% of all alternative fuel orders in 2024.

“As we work towards decarbonizing the industry, we are encouraged by the growth in alternative fuel vessels over the past few years. While recent figures are promising, we must keep pushing forward. The technological transition is underway, but supply of alternative fuel is still low.

“As an