14 LNG Fuelled Ships Ordered in March, Says DNV

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  • A total of 14 more LNG-fuelled ships were ordered last month, according to classification society DNV.
  • March’s new orders took the total count for the first quarter to 70, the second-highest quarter on record, the company said in an emailed statement on Friday.

A recent news article published in the Ship and Bunker states that according to DNV 14 More LNG-Fuelled Ships Ordered in March.

A recent surge in LNG prices

The recent surge in LNG prices appears not to have dented enthusiasm for gas-powered tonnage orders yet.

Ship & Bunker prices show LNG priced in fuel oil terms at Rotterdam stood at $1,501/mt on March 31, up from $370/mt a year earlier, while VLSFO at the Dutch port gained $410.50/mt over the same period to $876.50/mt.

Growth in LNG fuelled ships

“The continued growth in the number of LNG-fuelled vessels ordered could easily have been much higher this month, and for the quarter, due to a couple of record-breaking newbuild orders reported to be imminent,” Martin Wold, principal consultant in DNV’s Maritime Advisory business, said in the statement.

“So things don’t seem to be slowing down just yet, with many tens of vessels in the pipeline. “

“However, yard capacity is growing scarce and newbuild prices are climbing, so we could soon see overall newbuild numbers slackening off. “

 “This would also impact the further growth in orders of LNG fuelled ships.”

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Source: Ship and Bunker

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