Latest figures from DNV’s Alternative Fuels Insight (AFI) platform indicate that a total of 25 new orders were placed for alternative-fueled vessels in March 2025.
Methanol was the biggest activity driver, accounting for 12 of these new orders. This was spread across diverse segments, with cruise vessels and car carriers accounting for three each, one offshore vessel, one bulk carrier, and the remainder crude oil/chemical tankers.
Seven orders were placed for LNG-fueled vessels, all in the container segment.
The remaining two orders were for ammonia-fueled vessels, both oil/chemical tankers.
There were 71 orders placed for alternative-fueled vessels in the first quarter of 2025, representing a 13% decline compared to the first quarter of 2024. This comes against the backdrop of lower newbuild activity throughout the maritime industry in the early months of 2025.
Jason Stefanatos, Global Decarbonization Director at DNV Maritime, commented: “This was another solid month for the alternative-fueled orderbook, with plenty to be encouraged about.
“Methanol led the way, accounting for the highest number of new orders, following relatively weak activity over the winter months. Interestingly, these orders were spread across diverse segments, with owners across the cruise, car carrier, bulk carrier, and tanker segments investing in this fuel.
“The ordering of two ammonia-fueled vessels from the tanker segment is also notable. While ammonia still has some way to go as a marine fuel, foundations are being put in place and progress is being made.”
He concluded: “Although new order activity in the alternative-fueled market is tracking 13% behind the first quarter of 2024, this is largely attributable to a weaker overall newbuild market in 2025.”