Although the overall new shipbuilding market has slowed, orders for alternative-fuel vessels continue to rise in 2025. According to DNV’s Alternative Fuels Insight (AFI) platform, new orders for alternative-fuel ships reached 19.8 million gross tons (GT) in the first half of 2025, a 78% increase compared to the same period in 2024. This marks a significant shift in capital allocation, as shipowners increasingly prioritize future-proof assets to address regulatory pressures, fuel supply security, and long-term decarbonization goals.
A total of 151 alternative-fuel vessels were ordered in the first half of 2025, slightly lower than the 179 vessels in the same period of 2024. Nevertheless, the total tonnage saw a substantial 78% year-on-year increase, driven primarily by container ship orders, though bulk carriers, tankers, and RoPax ferries also saw notable activity. This concentration indicates that some of the industry’s most market-sensitive and operationally complex segments are leading the transition, further demonstrating that alternative fuels are no longer a niche strategy but a mainstream investment decision.
Knut Ørbeck-Nilssen, CEO of DNV Maritime, commented: “We are witnessing a broader transformation across the industry. The energy transition is no longer driven solely by early adopters; it is now being shaped by a second wave of shipowners integrating alternative fuels and technologies into their core strategies. Even amid a slowing newbuilding market, fuel choices are diversifying, and decarbonization is becoming part of routine decision-making. We anticipate accelerated fuel selection and energy efficiency investments as regulatory frameworks become clearer over the next 4 to 10 months.”
Liquefied natural gas (LNG) remains the dominant choice, accounting for 87 new orders totaling 14.2 million GT so far in 2025. The fuel continues to lead in the container ship segment, with 13.6 million GT (81 vessels). Methanol has also gained strong momentum, securing orders for 4.6 million GT (40 vessels) across container ships, RoPax ferries, tankers, offshore vessels, and car carriers.
While ammonia and hydrogen remain niche, ongoing order activity reflects early industry confidence in their long-term potential. Three ammonia-fueled vessels were added to the orderbook, primarily in the tanker and general cargo segments (totaling 37,000 GT). Hydrogen-fueled vessels have also re-entered the market, with four currently on order (114,000 GT).
Jason Stefanatos, Global Decarbonization Director at DNV, added: “The data reflects an industry actively adapting. We are not seeing a decline in ambition but rather a more measured investment approach—one that balances optionality, compliance readiness, and long-term fuel strategy. With shipowners weighing compliance strategies, the upcoming Fuel Intensity Regulations (part of the IMO’s net-zero framework) are expected to accelerate this shift. We are closely monitoring how this will influence future ordering behavior, especially as fuel supply and infrastructure evolve and regulatory clarity improves with the finalization of IMO’s lifecycle assessment guidelines.”
Supporting infrastructure is also developing in tandem with vessel investments. In the first half of 2025, 13 LNG bunkering vessels were ordered, compared to 62 currently in operation globally. February was the strongest month for such orders, with eight placed. This growth reflects steady alignment between alternative-fuel vessel orders and the logistics needed for scaled adoption—particularly for LNG—where bunkering capacity has become a key enabler for continued expansion.
