Owners in the maritime sector are increasingly adopting dual-fuel systems to achieve net-zero emissions and comply with current environmental standards. Using the Fleet Database feature of the VesselsValue platform, we examined the annual deliveries of dual-fuel vessels since 2018 across the Bulker, Tanker, and Container sectors.
Significant Growth in Dual-Fuel Vessel Deliveries
Since 2018, the number of vessels equipped with dual-fuel capabilities has grown significantly. Since just 13 vessels in 2018, the figure has surged to an anticipated 151 by the end of 2024. This represents a dramatic increase, especially when compared to the 88 dual-fuel vessels built in 2023, marking a year-on-year growth of approximately 72%.
Container Sector Leading the Transition
The Container sector is at the forefront of this transition, experiencing a substantial rise in dual-fuel vessels. From a mere one dual-fuel Container vessel in 2018, the sector saw 29 deliveries in 2023, escalating to 99 in 2024—a remarkable 241% year-on-year increase. The surge aligns with the recent boom in Container orders and the growing demand for sustainable fuels.
Trends in Tanker and Bulker Sectors
The Tanker sector ranks second, with 35 dual-fuel tankers expected in 2024, though this is a 13% decrease from the 40 delivered in 2023. The Bulker sector, while third in line, also showed a reduction in deliveries, with a year-on-year fall of approximately 11% in 2024. Despite these declines, the overall trend since 2018 indicates significant growth, from three dual-fuel bulkers and nine tankers in that year to current levels.
The investment in dual-fuel technology highlights a broader maritime fuel transition, driven by the need for alternative fuels to meet sustainability goals. While other technologies are still in development, dual-fuel systems are already widely recognized and established, paving the way for a greener future in maritime transport.
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Source: VV Blog
