As explained, alternative fuel newbuildings, designed to bring carriers to their net zero decarbonisation targets over the next two decades, have comprised 72% of orders so far this year, with pure conventional fuel tonnage well on the way to being phased out among the larger ship sizes.
The percentage of these orders, however, has fallen for the second consecutive year, demonstrating the challenge carriers face in sourcing new-age fuels, which has led to a partial cooling of enthusiasm and the renewed domination of what was once regarded as an interim solution, LNG fuel propulsion.