Analytics – September 2025: LNG Dominates Alternative Fuel Vessel Orders Amid Market Slowdown

The latest data from DNV’s Alternative Fuels Insight (AFI) platform reveals that liquefied natural gas (LNG)-fueled newbuildings comprised the majority of alternative-fuel orders in September 2025.

In total, 14 orders for alternative-fueled vessels were recorded in September 2025. Among these, 12 orders were for LNG-fueled vessels: six from the container segment, four from bulk carriers, and two from the cruise segment. The other two orders were for LPG carriers.

Throughout the first nine months of 2025, there have been 192 new orders for alternative-fueled vessels, representing a 48 % decrease compared to the same timeframe in 2024. LNG-fueled vessels accounted for the bulk of these orders (121), followed by 43 orders for methanol-fueled ships, with the remainder being LPG carriers (19), ammonia-fueled vessels (5), and hydrogen-fueled vessels (4).

The container segment continues to lead in new orders within the alternative-fueled market, representing 63% of all new orders so far in 2025 (120 vessels).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, noted:

“After a record-breaking first half of the year, the absence of new orders in August and relatively low activity in September indicate a notable slowdown in the alternative-fuel market during the third quarter. While this trend reflects a weaker overall market for newbuilds and rising contract costs, other elements are also affecting sentiment. Uncertainties surrounding the IMO’s Net-Zero Framework, including lifecycle assessment factors for specific fuels, are causing many owners to take a ‘wait and see’ approach to new orders. Therefore, it is crucial for the industry to attain clearer regulatory guidance in the months ahead.”