New orders for alternative-fuelled vessels slowed to just five in March 2026 — marking the third consecutive monthly decline — according to data from classification society DNV’s Alternative Fuels Insights (AFI) platform, as reported by Ship & Bunker.
A Thin Month for New Orders
The five vessels ordered in March comprised two LNG-fuelled car carriers, two LPG carriers, and one methanol-fuelled platform supply vessel (PSV), according to Kristian Hammer, product manager for AFI and senior consultant at DNV, who shared the figures in a LinkedIn post.
The result marks a significant step down from the 17 orders recorded in February 2026, and a steep fall compared to the 25 alternative-capable vessels ordered in March of the previous year, Ship & Bunker reports.
Q1 2026 Orders Trail Last Year’s Pace
Zooming out to the full first quarter, Hammer noted that 45 alternative-capable ships were ordered between January and March 2026 — a notable decrease from the 73 orders placed during the same period in 2025.
While new order activity has softened, DNV’s data points to continued strength on the delivery side. According to Hammer, 60 alternative-fuelled vessels were delivered in Q1 2026, including:
- 27 LNG-fuelled vessels
- 17 methanol-fuelled vessels
Hammer attributed this delivery volume to the substantial order pipeline accumulated in these fuel segments over the past three to four years, describing the activity as reflective of that earlier momentum.
Deliveries Outpace New Commitments
The contrast between a high volume of deliveries and a declining rate of new orders suggests the industry is currently absorbing the fruits of prior investment cycles, even as fresh commitments slow. The reasons behind the drop in new orders were not detailed in the source material.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
