Orders for methanol engines outpace LNG for the first time

Shipping’s rapid transition to alternative fuels took a significant twist last year with methanol-powered engine orders becoming the most popular choice.

The latest stats from DNV’s Alternative Fuels Insight platform have shown that orders for methanol-powered ships saw a sharp increase in orders in 2023 with 138 which puts it at the top spot, beating LNG for the first time. The chilled fuel took second place with 130 orders.

The rise of methanol in 2023 was more than significant as the 138 ordered vessels – excluding methanol carriers – was a steep increase compared to the 35 ordered to run on this fuel the year before. The dominating segment for this fuel was container ships with 106 orders, followed by bulk carriers with 13, and car carriers with 10 orders.

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