The maritime industry is experiencing a notable shift towards alternative fuels, with a particular focus on liquefied natural gas (LNG) and methanol. The rising demand for cleaner and more sustainable energy sources is evident through an increasing number of ship orders and the development of bunkering facilities. The safety4sea source.
- The maritime industry observes a rising demand for alternative fuels, with notable growth in LNG-fueled ships, backed by orders and infrastructure development.
- September marks a continued surge in LNG-fueled ship orders, emphasizing the industry’s commitment to sustainable energy solutions.
- Methanol orders, after a July record, exhibit a resurgence in September, highlighting the industry’s adaptability to evolving market dynamics in the alternative fuels sector.
LNG Momentum Continues to Surge
The maritime industry is experiencing a substantial surge in the demand for liquefied natural gas (LNG) as a ship fuel. DNV – Maritime’s AFI database reveals a remarkable uptick, with an additional 21 LNG-powered ships ordered in August, marking the second strongest month for LNG bunkering in over a year.
Sustained Growth in September
September has shown promise with a sustained growth trajectory, as orders for eight more LNG-fueled ships were placed. This continued expansion highlights the industry’s commitment to adopting cleaner and more sustainable fuels.
Infrastructure Development Takes Center Stage
The development of LNG bunkering facilities is gaining significant popularity. Recent announcements, such as the Seapath and Pilot LNG joint venture to construct the first dedicated LNG bunkering facility in the Galveston Bay area, underline the growing importance of infrastructure to support the shift to alternative fuels.
Methanol Orders Make a Comeback
Following a record-breaking month for methanol orders in July, there was a temporary dip in August. However, September witnessed a resurgence, with an additional 12 ships powered by methanol confirmed. This fluctuation underscores the dynamic nature of the alternative fuels landscape and the industry’s adaptability to changing market conditions.
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Source-safety4sea
