Alternative-Fuel Ship Orders Slow as Owners Hedge Fuel Bets

Orders for alternative-fuelled vessels continued in May but remain well below last year’s pace, highlighting a more cautious and diversified approach to decarbonization investments across the global shipping industry.

According to the latest data from DNV’s Alternative Fuels Insight (AFI) platform, shipowners placed orders for 36 alternative-fuelled vessels in May, bringing the total for 2026 to 119 vessels.

The latest activity was dominated by LPG and ethane carriers, which accounted for 26 of May’s orders. An additional eight LNG-fuelled vessels were ordered, including six containerships and two car carriers, while two ethanol-fuelled bulk carriers rounded out the month’s activity.

LNG continues