Against the backdrop of the global shipping industry accelerating its green transition, the proportion of clean energy ship types in the newbuilding market continues to climb, gradually evolving into a core direction leading the industry’s development. However, with the sharp drop in new ship orders, while the scale of green ships in the global shipbuilding industry continues to grow, the growth rate has begun to gradually slow down.
According to the latest statistics from Clarksons, out of a total of 938 new ship orders totaling 52.2 million gross tons globally from January to August this year, as many as 300 ships totaling 26.7 million gross tons were alternative fuel vessels, accounting for 51%. This exceeds the 45% for the entire last year and is also higher than the record 54.6% set for the full year of 2022. Calculated by order value, the total global new shipbuilding investment from January to August this year was $88.2 billion, with alternative fuel vessel orders valued at $48.3 billion (approximately RMB 344.56 billion), a year-on-year decrease of 37%, accounting for 54.8%.
This year’s alternative fuel vessel orders include 141 LNG-powered ships (19.2 million GT), 53 methanol-powered ships (6.1 million GT), 14 LPG-powered ships (0.6 million GT), 4 ethane-powered ships (0.1 million GT), and 93 /hybrid propulsion ships (1.3 million GT).
In recent years, the proportion of alternative fuel vessels in new ship orders has been climbing steadily, rising from just 8.2% in 2016 to 32% in 2021, reaching a record high of 54.6% in 2022. After dropping to 41% in 2023, it returned to 45% in 2024.
By shipbuilding country, Clarksons’ data shows that the vast majority of alternative fuel new ship orders in August 2025 were undertaken by South Korean shipyards, totaling 6 ships (514,300 CGT), accounting for 57.82% of the alternative fuel new ship orders in August 2025 by CGT, ranking first globally in order intake. All orders received were for LNG dual-fuel ships.
Meanwhile, Chinese shipyards secured a total of 13 alternative fuel orders (269,500 CGT) in August, with a market share of 30.3%. These included 5 LNG dual-fuel ships (120,600 CGT), 2 LPG dual-fuel ships (42,500 CGT), and 6 /hybrid ships (106,500 CGT).
According to Clarksons data, overall, by tonnage, the proportion of ships in the operating fleet capable of using alternative fuels or propulsion systems has now increased to 8.8%, higher than 2.6% in 2017 and 6.5% at the beginning of 2024. Among the total of 2,557 alternative fuel ships currently in operation, there are 1,471 LNG-powered ships, 75 methanol-powered ships, 145 LPG-powered ships, 744 /hybrid propulsion ships, and an additional 279 ships using other fuels.
In the orderbook, the proportion of alternative fuel vessels has reached 51.7%, higher than 10.9% in 2017 and 48.6% at the beginning of 2024. By tonnage, 36.5% of the orderbook consists of LNG-powered ships (1,000 ships), 10.0% are methanol-powered ships (329 ships), and 2.0% are LPG-powered ships (139 ships); additionally, about 3.2% (approximately 553 ships) use other alternative fuels, including 36 hydrogen-fueled, 62 ethane-fueled, 47 ammonia-fueled, 18 biofueled, and 515 /hybrid propulsion ships. The total orderbook for alternative fuel vessels is 2,021 ships.
As future fuel choices continue to expand, the number of alternative fuel-ready vessels is also increasing. Currently, there are 605 LNG-ready ships in the operating fleet, with another 201 in the orderbook; simultaneously, there are 306 ammonia-ready ships, 691 methanol-ready ships, and 15 hydrogen-ready ships in the orderbook.
Meanwhile, the latest statistics from DNV’s Alternative Fuels Insight (AFI) data platform point out that the growth rate of alternative fuel vessel orders slowed this summer, with August becoming the first month since 2018 to record no new orders for any alternative fuel vessels. DNV’s AFI platform only added 2 LNG bunkering vessel orders in August.
In contrast, new orders for alternative fuel vessels reached 28 ships in July this year, higher than the 19 ships in June. Kristian Hammer, Product Manager and Senior Consultant at DNV’s AFI, pointed out that only 178 alternative fuel ships have been ordered so far in 2025, a 49% decrease compared to the 350 ships in the same period last year. This trend is consistent with the background of a significant drop in overall new ship orders this year.
According to DNV’s forecasts, the number of ships capable of operating on alternative fuels will double by 2028. By 2030, alternative fuel ships will be able to consume up to 50 million tonnes of oil equivalent (Mtoe) of low greenhouse gas (GHG) fuels annually, which is twice the estimated amount required to meet the International Maritime Organization (IMO)’s 2030 emission targets. Among these, LNG-powered ships are expected to dominate, accounting for approximately 44 Mtoe; followed by methanol-powered ships, accounting for approximately 6 Mtoe.
