LNG

Alternative-fuelled ship orders declined in the first half this year, but LNG remained the dominant choice among shipowners, accounting for 73 of 137 vessels ordered, according to DNV, mainly for containerships and car carriers.

Investments in North American natural gas infrastructure – notably LNG terminals – run the risk of becoming stranded assets after 2040 as accelerated decarbonisation reduces LNG demand in Europe, Asia Pacific and China, DNV warns.

Orders for LNG-fuelled vessels reached 14.2 million gross tonnes in H1 2025 alone, more than 70% of the total alternative-fuelled tonnage ordered during the period, data from DNV’s Alternative Fuels Insight (AFI) platform shows. 

This surge reflects industry’s confidence in LNG as a scalable transitional fuel. DNV analysts see a “concerted push by shipowners to future-proof assets” amid tightening emissions regulations.

Container segment in the lead

A total of 87 LNG-fuelled vessels were ordered between January and June 2025. The container shipping sector is in the lead by a wide margin, with 81 of the 87 LNG-fuelled vessels, amounting to 13.6 million gross tons, destined for global liner operators. Leading container carriers are locking in LNG dual-fuel capabilities to meet forthcoming IMO and EU decarbonisation targets, including FuelEU Maritime and the IMO’s Carbon Intensity Indicator (CII) framework.

“LNG is clearly not a fringe option anymore—it’s a mainstream fuel choice, especially in container shipping,” commented Knut Ørbeck-Nilssen, CEO Maritime at DNV. “The rise in LNG orders signals that shipowners are prioritizing compliance, optionality, and access to fuel infrastructure. Even as the broader newbuild market cools, investments in LNG-fuelled vessels remain resilient.”

Uptick in LNG bunkering

LNG bunkering capacity also expanded notably: 13 LNG bunkering vessels were ordered in the first half of this year, equivalent to more than 20% of the current global fleet of 62 operational LNG bunkering ships. February alone saw eight LNG bunkering vessel orders, the strongest month on record for this segment. According to DNV, this underscores how port infrastructure and supply chain readiness are evolving in tandem with vessel demand.

Though zero-emission fuels like ammonia and hydrogen are still in early development, LNG offers immediate CO₂, NOₓ, SOₓ, and particulate matter reductions compared to conventional marine fuels. When combusted in advanced engines and supported by bio-LNG or synthetic LNG blends, emissions can be y reduced significantly. That way, shipowner can comply with upcoming lifecycle assessment (LCA) rules currently being finalized by the International Maritime Organization (IMO).

Regulatory inflection point

As the maritime sector approaches a critical regulatory inflection point in 2026–2030, the strong pipeline of LNG-fuelled newbuilds ordered in 2025 signals not just a trend, but a decisive strategic shift.

“What we’re seeing is a pragmatic approach to decarbonisation. LNG offers a combination of technical maturity, global availability, and regulatory headroom. For many shipowners, it’s the safest bet in the current landscape—especially as fuel intensity metrics and lifecycle-based emissions standards take shape,” Jason Stefanatos, Global Decarbonisation Director at DNV noted.

LNG bunkering hubs spring up and expand across Europe, Asia, and the Americas. The adoption of the cleaner-burning fuel is hence being matched by real-world infrastructure deployment – reinforcing LNG’s role as the industry’s bridge to low- and zero-carbon shipping.

China’s COSCO Shipping (Qidong) Offshore and the COSCO shipyard (Nantong) have received approval in principle (AiP) from the Norwegian classification society DNV, along with a main scantling approval for their new concept for a floating liquefaction and storage unit. The innovative new FLNG concept reflects the industry’s drive for flexible, lower-carbon energy solutions, commented DNV’s regional manager for greater China, Norbert Kray.

May 2 (LNGJ) - DNV, the European maritime classification society, said a total of 23 new orders for alternative-fuelled vessels were registered in April 2024. A total of 12 of the 23 newbuilds were methanol-fuelled ships, seven were for LNG-fuelled vessels and four for ships to be powered by ammonia.

   “All of the methanol orders come from the tanker segment, where the uptake of alternative fuels has been low up to now. The momentum for ammonia continues,” DNV explained. “Following a quiet month in March, these strong figures confirm the overall trend of a steady increase in new orders for alternative fuels,” it added. A total of 93 new orders have been added to DNV’s alterative-fuelled vessels data base in the first four months of 2024.

European classification society DNV said there were a total of eight new vessels with alternative fuel propulsion ordered in November with four of them LNG-powered ships as the sector showed continued growth, helped by lower LNG bunker prices at under $890 a tonne in markets like Rotterdam to improve the shipping economics outlook.

Among the ships the other four were methanol-powered and all eight shipping were in the roll-on-roll-off (RoRo) ferry and car carrier sectors.

DNV said that so far in 2023, the platform has logged 268 new orders for alternative fuel vessels, including 112 LNG-fuelled and 152 methanol-powered ships.

The months of June and July saw the most activity related to LNG with 47 new orders combined, whereas July propelled methanol-powered vessels across the 200 ships mark with 48 new orders.

Strong market

“While November's performance may not have matched the volume of previous months, the overall enthusiasm and promising trajectory remain for both LNG and methanol,” said Martin Wold, Principal Consultant in DNV's Maritime Advisory business.

“In general, the pipeline for both announced and unannounced projects remains strong, indicating that the pace will pick up again,” Wold explained.

“However, it's worth noting that the momentum we see in the tanker and bulk segments continues to experience a more gradual acceleration,” he added.

There are currently 988 LNG-fuelled vessels on order or in operation worldwide. This list comprises 528 ships to be delivered through 2028 and 460 LNG-powered ships on the water.

About 198 of these newbuild orders are for LNG-powered containerships and a further 139 vessels are Pure Car and Truck Carriers (PCTCs), while oil and chemical tankers are in third with 48 orders and the fourth-highest segment is for crude oil tankers with 36 orders.

There are also 24 cruise ships and 18 tugs in the order book along with 11 RoPax vessels as well as single-figure numbers for car and passenger ferries, general cargo ships, offshore supply ships and fishing vessels.

Rotterdam prices

This DNV data does not include smaller inland vessels and barges that are part, for example, of the Amsterdam, Rotterdam, Antwerp (ARA) refining hub transportation in northwest Europe or trading on major European rivers.

LNG bunkering fuel costs in Rotterdam have declined steadily since the start of the year.

LNG bunkers at Rotterdam were priced in November at the start of December 2023 at $887 per tonne compared $998 at the start of November 2023 and $1,392 per tonne at the start of January.

Among other emissions-reducing fuels, the price of Ultra Low Sulfur Fuel Oil (ULSFO) at the Dutch port was less volatile than LNG.

The last ULSFO quote in Rotterdam showed only a slight rise since the start of the year to $558 per tonne at the beginning of December 2023 compared with $556 per tonne at the start of January 2023.

June 30 (LNGJ) - Ascenz Marorka, the smart-shipping unit of French LNG gas storage technology firm GTT, has obtained Type Approval certification from European classification society DNV for its advanced Shaft Power Limitation solution to enable cleaner shipping.

   “The solution helps ship-owners and operators comply with the International Maritime Organisation regulations aimed at curbing green-house gas emissions and carbon intensity by 40 percent before 2030,” said Ascenz Marorka. “It monitors propeller shaft power and signals an alert in the wheelhouse if the shaft power exceeds the EEXI calculated maximum power. The system logs the periods where the limit was exceeded and enables crew to give comments,” it added.

European maritime classification society DNV has established a Future Ship Joint Innovation Centre in Shanghai in partnership with China State Shipbuilding Corp. (CSSC), the world’s leading shipbuilding group.

DNV and CSSC said the facility would allow both companies to cooperate on ship and offshore field technical innovation and to advance digitalization while providing technical support and general solutions for the maritime industry.

The new Innovation Centre was formally opened by CSSC Vice President Sheng Jigang and DNV Maritime Chief Executive Knut Ørbeck-Nilssen.

The CSSC yards include China’s leading LNG carrier builder Hudong-Zhonghua Shipbuilding of Shanghai.

Its current orders include building six LNG carriers for a partnership including Japanese shipping company Mitsui OSK Lines and China’s Cosco Shipping to be delivered in 2025.

DNV joint operator

DNV will operate the Innovation Centre with the Shanghai Merchant Ship Design and Research Institute (SDARI) and the cooperation accord was signed by SDARI’s President Lv Zhiyong and DNV’s Senior Vice President and Regional Manager Norbert Kray.

The Centre will set up three joint work groups on reducing carbon-dioxide and promoting digital and smart shipping.

“The establishment of this Centre is an important step for a deepened strategic cooperation between CSSC and DNV, China and Europe,” stated CSSC VP Sheng.

“Additionally, the mutual trust and advantages gained will pave the way for an in-depth technical exchange between SDARI and DNV China, accelerating research on green and intelligent shipping technology towards a global maritime transformation,” Sheng added.

DNV Maritime’s CEO Ørbeck-Nilssen said it was a great honour cooperate with CSSC and SDARI to establish the Centre.

Support

“DNV will support the Centre with its full global expertise. Together we will work to ensure it will become a model for the maritime industry’s proactive response to decarbonization and digital transformation,” Ørbeck-Nilssen declared.

Others who attended the ceremony included CSSC’s Assistant President and Director General of Technology Division Xu Miao, SDARI’s Vice President Li Lu and DNV’s Senior Vice President and Reginal Strategic Business Development Director James Huang,.

Also in attendance were DNV's Vice President and Regional Customer Relations Director Hou Juzhen, Vice President and Head of Technical Centre China Øyvind Pettersen and members from the new Centre and its working groups.

European classification society DNV has classed two LNG-powered bulk carriers owned by Maran Dry Management (MDM), the dry bulk shipping arm of Greece’s Angelicoussis Group, and has seen both vessels through to successful bunkering operations.

DNV said the Greek company took delivery of the two Newcastlemax bulk carriers from Shanghai Waigaoqiao Ship Building Co. in China.

The “Ubuntu Unity” was delivered on February 28 and the “Ubuntu Community” on April 18.

“The 190,000-deadweight ton vessels, registered with the Greek flag, are the first dual-fuelled bulk carriers in the Greek market and will sail using LNG,” said the Norway-based class society.

DNV has been at the forefront of the growing LNG fuel market in classing vessels and assisting developers.

“The two Newcastlemax LNG-powered vessels are 299.80 metres long, 47.5 metres wide and 24.70 metres deep, with a design draft of 18.25 metres and a design draft speed of 14 knots,” said DNV.

LNG tanks

They can use both LNG and conventional fuel and are equipped with two Type-C LNG fuel tanks.

DNV explained that the capacity of the LNG tanks means that the vessels could operate for 20,000 nautical miles powered by gas, allowing the vessels to complete two round-trip routes from China to Australia or one round-trip route from China to Brazil.

Both vessels were described by DNV as having a combination of “very advantageous” dual-fuel and hull optimizations and high energy efficiency.

“We are very pleased to have been involved with the charterer, owner, yard and designers from the outset of this project,” said Morten Løvstad, Vice President and Global Business Director for Bulk Carriers at DNV Maritime.

“These highly efficient and innovative vessels, with dual-fuel engines, and an optimized hull design, show MDM’s commitment to meeting environmental regulations not just today but over the long term,” Morten Løvstad.

Designs

Captain Babis Kouvakas, Managing Director that MDM as part of the Angelicoussis Group was committed to embracing sustainability initiatives to optimize its fleet’s environmental performance.

“We are delighted to have collaborated with DNV and SWS on the design and development of these modern and environmentally friendly ships. Both vessels incorporate the latest technology, aiming to reduce carbon emissions,” Kouvakas added.

Ioannis Chiotopoulos, Senior Vice President and Regional Manager for South East Europe, the Middle East and Africa at DNV Maritime, said the two vessels marked the high level of cooperation between the Angelicoussis Group and DNV.

“These new vessels clearly show the Group`s commitment to driving sustainability in the bulk segment, and are great examples of how the maritime community is taking up the challenge of reducing our environmental footprint through innovation,” Chiotopoulos explained.

“We thank MDM for their trust and welcome ‘Ubuntu Unity’ and ‘Ubuntu Community’ to DNV class. May they enjoy smooth sailing for many years to come,” Chiotopoulos added.

Both Ubuntu vessels are on charter to global mining company Anglo American.

European classification society DNV said there were eight more liquefied natural gas-powered vessels ordered in March 2023 as LNG bunkering fuel prices were much lower than at the turn of the year at just over $820 per tonne.