DNV says LNG-powered vessel orders hit record high in March

Classification society DNV says orders for LNG-powered ships hit record high in March as a growing number of owners opt for the fuel to comply with stricter rules and slash emissions.

According to DNV’s Alternative Fuels Insight platform, owners placed in total 21 orders for LNG-powered ships in March including 13 very large crude carriers, two capesize bulkers, and two cruise ships.

This marked the highest number of orders for LNG-fueled ships in a month since DNV started counting these ten years ago, Martin Wold, principal consultant at DNV, said.

In addition, this brings the total order count for this year to nearly 50 ships, already matching the number of orders during the entire 2020, according to Wold.

The March orders include the ten VLCCs that will go on charter to Shell but also orders by ADNOC Logistics and Services, Anglo American, NYK Line, and Storylines.

DNV says LNG-powered vessel orders hit record high in March
Image: DNV

The DNV platform shows that 198 LNG-powered ships are already in operation with 265 on order.

LNG-powered car and passenger ferries lead the way with 43 in operation, followed by 25 offshore supply ships, and 20 oil and chemical tankers, the data shows.

As per vessels on order, LNG-powered crude oil tankers and containerships account for most of the orders with 58 and 43 units, respectively.

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

NextDecade, Bechtel agree $9 billion EPC deals for two Rio Grande LNG trains

US LNG firm NextDecade and compatriot Bechtel have finalized EPC contracts worth $9.09 billion for the construction of the fourth and fifth trains and related infrastructure at the Rio Grande LNG facility in Texas.

Worley updates on CP2 LNG work

Australian engineering firm Worley has provided an update on its reimbursable EPC contract with US LNG exporter Venture Global LNG for the latter's CP2 LNG terminal in Louisiana.

More News Like This

Shell’s LNG Canada nears first LNG

LNG giant Shell is nearing the launch of the first liquefaction train at its LNG Canada export terminal in Kitimat.

Cosco Shipping’s yards get DNV OK for FLNG concept

China's Cosco Shipping (Qidong) Offshore and Cosco Shipping Shipyard (Nantong), both part of Cosco Shipping, have received approvals from classification society DNV for their nearshore floating LNG production unit.

Santos gets $18.7 billion takeover offer from Adnoc-led consortium

Australian LNG player Santos has received a takeover offer valued at $18.7 billion from a consortium led by Adnoc's investment unit XRG.

Adnoc Gas dishes out $5 billion in contracts for expansion project

Adnoc’s gas and LNG unit, Adnoc Gas, has taken the final investment decision on its Rich Gas Development (RGD) project. It also awarded $5 billion in contracts for the first phase of the project in the UAE.