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.

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