From January to June 2026, the total number of new orders for green-powered vessels globally was 242 /21.274 million deadweight tons, a year-on-year increase of 24.1% (by number of vessels). Among them, LNG-powered vessels led the number of new green ship orders with 170 /16.498 million deadweight tons, accounting for over 70%, a year-on-year increase of 47.8%. New orders for methanol-powered vessels saw a significant decline, with only 4 /241,000 deadweight tons in the first half of 2026. Specific details are shown in the figure below.
Figure 1. Statistics on new orders for green-powered vessels from January to June 2026. Data source: Clarksons Research, statistical caliber for vessels over 2000 gross tons.
Overall, green-powered vessels maintained a growth trend from January to June 2026. Shipowner preferences show a trend of taking LNG as the primary choice, with further declining confidence in methanol fuel for the future. The main reasons are as follows:
First, the IMO net-zero emission framework has not yet been implemented, and shipowners prioritize LNG fuel, which has a higher compliance error tolerance. The IMO MEPC 84 meeting concluded in April 2026 failed to establish a globally binding net-zero framework for shipping. Against this backdrop, LNG’s advantages as a mature transitional low-carbon fuel are prominent, with controllable short-term carbon penalty costs. In the long term, combined with bio-LNG and onboard carbon capture equipment, there is still room for continuous emission reduction optimization, and the risks of premature ship scrapping and large asset depreciation are lower.
Second, the construction of methanol fuel supply capacity is slow, while LNG fuel has a clear comparative advantage. As shown in the table below:
Table 1. Comparison of LNG and methanol fuel engine technology and fuel supply conditions
Third, shipowners have become more冷静 (/sober) in their choice of green fuel types, and the boom in ordering methanol-powered vessels has subsided. Influenced by leading shipowners such as Maersk, the ordering boom for methanol vessels occurred from 2023 to 2025. It is expected that a large number of methanol vessels will be delivered intensively from 2026 to 2027. In the short term, the supply of methanol fuel has become saturated, making it difficult to support further fleet expansion. To balance current compliance needs with long-term decarbonization requirements, shipowners tend to order methanol-ready vessels to avoid the risk of short-term fuel supply shortages. According to Clarksons data, new orders for methanol-ready vessels reached 85 units in the first half of 2026, further reducing new orders for methanol-powered vessels.
The green transformation and development of ships is an inevitable trend, but there are still certain variables in the path transition of fuel conversion. In the short term, before the IMO net-zero emission framework is implemented, LNG will remain the preferred transitional low-carbon fuel for shipowners, and order enthusiasm may continue. In the medium to long term, with the release of green methanol production capacity and the improvement of bunkering networks, methanol fuel still has long-term decarbonization potential, and methanol-ready vessels may become one of the mainstream solutions bridging old and new fuel routes. (Author: Hou Zhen)
