DNV Reports Uptick in Alternative Fuel Orders as Bulkers Test Ethanol and Hydrogen

Contracting activity for alternative-fuelled newbuilds strengthened significantly in August, reaching its highest monthly level since October 2024. According to figures compiled by classification society DNV on its Alternative Fuels Insight platform, a total of 52 alternative-fuelled vessels were added to the database during the month.

The firm August performance built on momentum established in July, when 47 alternative-fuelled vessels were recorded. The recent additions underscore sustained investment by shipowners in non-traditional propulsion systems as fleet renewal strategies adapt to tightening global emissions standards.

Liquefied natural gas dominated contracting decisions across the maritime industry, representing 46 of the 52 vessel orders entered into the platform in August. The container segment spearheaded this demand with 30 LNG-fuelled vessel orders, followed by the car carrier sector, which added 12 LNG-capable ships to the orderbook.

While LNG led the broader market, contracting in the dry bulk sector showed exploration of alternative fuel options. The August intake included six dry bulk newbuilds, comprising four ethanol-fuelled bulk carriers and two vessels designed to run on hydrogen fuel, highlighting continuing trials of alternative energy carriers in dry cargo shipping.