Clarksons Research has released its latest Green Technology Tracker, providing an update on the industry’s progress in adopting alternative fuels and energy-saving technologies, according to Clarksons.
Significant Surge
The shipbuilding industry witnessed a significant surge in 2024, with order volumes reaching their highest level since 2007. Notably, alternative fuels continued to play a prominent role, accounting for 50% of all tonnage ordered.
A total of 820 vessels with alternative fuel capabilities were ordered in 2024, amounting to 62.2 million GT. LNG dual-fuel technology remained the dominant choice, accounting for 70% of alternative-fueled tonnage (excluding LNG Carriers).
The concept of “ready” vessels, designed to be retrofitted with alternative fuel capabilities in the future, gained traction, with approximately 21% of all orders falling under this category. Ammonia and methanol were the most prominent choices for “ready” vessels. While adoption varied across vessel segments, larger vessels like 12,000+ TEU containerships and car carriers exhibited higher adoption rates of alternative fuels. Conversely, smaller vessel segments such as Ultramaxes, Handysize, and MR tankers showed lower adoption rates.
Alternative Fuel Capability
With a significant portion of the current orderbook consisting of alternative fuel vessels, we forecast that over 20% of the global fleet capacity will be alternative fuel capable by 2030. This represents a substantial increase from 2% in 2017 and 8% in 2024. While alternative fuel vessel orders are increasing, the development of supporting infrastructure, such as port facilities for LNG, methanol, and other fuels, is lagging. Currently, only 35 ports worldwide have plans for methanol bunkering facilities, compared to 276 ports with LNG bunkering facilities and 275 ports with shore power connections.
Given the aging of the global fleet and the increasing importance of energy efficiency, the retrofitting of existing vessels with Energy Saving Technologies (ESTs) remains crucial for decarbonization. Over 10,360 ships have been fitted with ESTs, including propeller ducts, rudder bulbs, and air lubrication systems, accounting for over 37% of fleet tonnage.
Furthermore, 37 vessels are currently equipped with onboard carbon capture technology, with an additional 12 newbuilds incorporating this technology. The share of the fleet equipped with “Eco” engines has also increased to over 34%.
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Source: Clarksons
