Alternative-fuel vessel orders surge amid maritime industry shifts

Global orders for alternative-fuel vessels saw a significant rebound in the third quarter, with September reaching a nearly two-year high. According to data from DNV’s Alternative Fuels Insight platform, 69 alternative-fuel vessels were ordered in September alone. Year-to-date, orders for such vessels have increased by 53% compared to the same period last year, totaling 311 orders.

Liquefied natural gas (LNG) remains the primary choice for newbuilds, accounting for 48 of the 69 orders in September. Other orders included methanol-powered bulk carriers and liquefied petroleum gas (LPG)-powered vessels.

In the United States, Matson, Inc. has announced a $1 billion investment in three new Jones Act-compliant containerships being constructed by Hanwha Philly Shipyard, Inc. The first vessel, named ‘Makua’, was recently christened. These new ships will be LNG-ready, featuring dual-fuel engines designed to operate on either conventional marine fuels or liquefied natural gas to support China-Long Beach Express and Hawaii services.