Lloyd’s List senior reporter Declan Bush asks why LNG is so far out in front in the race to be shipping’s first choice alternative fuel.
LNG Leads the Race for Shipping’s Alternative Fuel
As the shipping industry grapples with decarbonization, the race to adopt alternative fuels is well underway. While many industry players speak of a multi-fuel future, the data suggests one clear frontrunner: liquefied natural gas (LNG).
According to Norwegian classification society DNV, orders for LNG-capable vessels doubled in 2024, reaching 264 new orders—100 more than methanol, the next most popular alternative.
LNG ships now account for nearly 10% of all ships on order and 26% of gross tonnage on order, solidifying their position as the leading alternative fuel choice. While the long-term winner in the energy transition remains uncertain, LNG is undeniably ahead in today’s market.
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Source: Lloyd’s List
