The past few years have witnessed a significant increase in clean fuel-powered ships, with the global dual-fuel fleet currently standing at 2,119 vessels with a combined capacity of 123 million gross tons.
The world fleet of eco-friendly vessels featuring dual-fuel engines now represents 7.4% of the entire global fleet by gross tonnage, representing a huge rise from the 3.2% recorded in 2018, according to data provided by Intermodal.
As informed, 84% of this alternative fuel tonnage is LNG dual-fueled, consisting of 1,248 units with a total capacity of 102.93 million gross tons.
Moreover, the share of dual-fuel vessels in the global orderbook is steadily rising, climbing to 52%, from just 16% in 2018. The current dual-fuel orderbook totals 1,821 units with a combined capacity of 143 million gross tons; among these are 1,042 LNG dual-fuel vessels accounting for 103.74 million gross tons.
“The implementation of the Poseidon Principles is to the global ship financing portfolio progressing, reflecting a commitment to sustainable ship financing despite several challenges that need to be addressed,” as per Nikos Tagoulis , Senior Analyst at Intermodal.
“While the green transition in the shipping industry is gaining momentum, as evidenced by a growing share of environmentally friendly vessels within the fleet and orderbook, the declined recycling activity of the last years hinders fleet modernization. The pace of fleet demolition will be a critical factor to monitor in the coming year, as a potential rise in scrapping volumes could facilitate modernization and support further the green transition,” he concluded.