New results from DNV’s Alternative Fuels Insights platform have revealed that methanol has gone mainstream and ammonia has broken through as an potential option for the maritime sector as it looks to decarbonize.
In 2023, a total of 298 ships with alternative fuel propulsion were ordered, an 8% increase year on year. 138 of these were for methanol, putting it neck and neck with LNG (130). Eleven ammonia orders were made, with more in the pipeline.
Knut Ørbeck-Nilssen, CEO Maritime at DNV, said: “As we navigate towards a greener maritime future, the growing demand for alternative-fueled vessels speaks volumes. These orders send pivotal signals to fuel providers and other important partners on shipping’s decarbonization journey. While it is clear that the maritime fuel technology transition is already underway, we now need to ensure the fuels powering these engines become available.”
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