Alternative Fuel Vessels Orders Continue to Grow Despite Slowing of Overall Newbuild Market

Ordering of alternative-fueled vessels is continuing to grow in 2025, despite a slowdown in the overall newbuild market.

According to data from DNV’s Alternative Fuels Insight (AFI) platform, new orders for alternative-fueled vessels reached 19.8 million gross tonnes (GT) in the first six months of 2025, exceeding the 2024 figure by 78%. This marks a shift in capital allocation, as shipowners increasingly prioritize future-ready assets in response to regulatory pressure, fuel availability, and long-term decarbonization goals.

LNG was the clear fuel of choice, accounting for 87 new vessels ordered, totaling 14.2 million GT so far in 2025. The fuel remains dominant in the container segment, with 13.6 million GT (81 vessels). Methanol has also shown strong momentum, with 4.6 million GT (40 vessels) ordered across the container, RoPax, tanker, offshore, and car carrier segments.

Ammonia and hydrogen, while still niche, continue to register activity, suggesting early-stage confidence in their long-term potential. Three ammonia-fueled were added to the orderbook, primarily in the tanker and general cargo segments (37.000 GT total). Hydrogen made a return with four vessels (114.000 GT) currently on order.

Supporting infrastructure is also evolving in parallel with vessel investments. In the first half of 2025, 13