According to Martin Christian Wold’s post on LinkedIn, in March 2024, there were five new orders placed, comprising two for ships powered by methanol, two for ships fueled by ammonia, and one for a vessel using LNG as fuel.
Although newbuilding activity for alternative fueled vessels hasn’t kept up with the rapid pace set in January and March, the overall trend remains strong.
..said Jason Stefanatos, Global Decarbonization Director at DNV.
As explained, momentum for ammonia continues, with two additional orders bringing the total to five for the first three months of 2024, a clear signal that investment in ammonia is on the rise.
Stefanatos added that as seen by year-on-year growth of over 50% for new orders in the first quarter of the year, the alternative fueled fleet is expanding quickly. The LNG fleet in operation has more than doubled since 2021, while the fast-growing methanol orderbook indicates similar growth in this segment over the next five years.
We have now registered five ammonia newbuildings in the first three months of 2024, a signal that investment in these types of vessels is also on the rise ..he added.