In the UK, Rivera Maritime News reported the global shipping fleet’s value, according to Clarksons Research, reached US$2 trillion by the end of 2024, adding US$800 billion in value over the first four years of this decade. This growth was driven by a 6.2% rise in tonne-mile demand, which “reflects the largest growth in shipping demand for 15 years.”
In 2024, 50% of newbuild orders were for ships with alternative fuel capabilities. According to Steve Gordon, Clarksons Research global director, “alternative fuel has continued to play a prominent role, representing 50% of all tonnage ordered in 2024.” This represents a record level of investment in green technology, with 820 vessels ordered with alternative fuel capabilities, totaling 62.2 million gross tonnes.
“Orders involving ‘ready’ status have increased to around a fifth of all orders,” Clarksons reported, with ammonia and methanol being “prominent as alternative fuel ready choices.” LNG dual-fuel technology saw a strong rebound, covering 70% of the alternative-fueled tonnage ordered, up from 43% in 2023. Clarksons forecasts that over a fifth of all fleet capacity will be alternative fuel-capable by 2030, a significant increase from just 2% in 2017.
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Tags: LNG dual-fuel, UK
Category: Sustainable Marine Fuels
