February saw more methanol-powered ships ordered than LNG ships

ORDERS for alternative-fuel vessels picked up last month, according to DNV’s Alternative Fuels Insight platform.

There were 22 methanol-powered ships ordered over the month and 10 LNG-powered ships ordered.

So far this year the total order figure for alternative fuel vessels stands at 34.

DNV Maritime Advisory principal consultant Martin Wold said interest for methanol has been growing quickly, and now this is materialising into firm orders.

“Being a well-established alternative for some time, we see that LNG is still gaining ground,” he said.

“We expect continued growth for both fuel options as they have their distinct pros and cons depending on the segment. LNG offers immediate reduction of GHG, even when fossil LNG is used, at the expense of a higher capital investment.

“Building a methanol fuelled vessel is less expensive, but green methanol will be needed sooner than green LNG and there is currently high uncertainty on future availability and prices.”