In 2025, the overall prosperity of the global newbuilding market has declined, and the growth rate of alternative-fuel vessel orders has also slowed down from its previous high level. Against the backdrop of multiple factors—including unestablished fuel technology pathways, increasing cost pressures, and uncertain regulatory expectations—shipowners' investment attitude toward green vessels has become markedly more cautious.

According to the latest statistics from Clarksons, from January to November this year, out of a total of 1,627 new ship orders worldwide (87.6 million gross tons), as many as 415 vessels (35.9 million gross tons) are alternative-fuel ships, accounting for 41% of the total—lower than the 45% recorded for the entire previous year. In terms of order value, the global newbuilding investment from January to November this year totaled $146.7 billion, with the value of alternative-fuel ship orders amounting to $69.2 billion (approximately RMB 484.8 billion), a year-on-year decrease of 34%. This accounted for 47.2% of the total investment.

The alternative-fuel vessel orders this year include 217 LNG-powered ships (28.7 million gross tons), 51 methanol-powered ships (5.2 million gross tons), 17 LPG-powered ships (0.7 million gross tons), 4 ethane-powered ships (0.1 million gross tons), and 132 battery/hybrid propulsion ships (1.7 million gross tons).

In recent years, the proportion of alternative-fuel vessels in new ship orders has been steadily rising, increasing from just 8.2% in 2016 to 32% in 2021, and reaching an all-time high of 54.8% in 2022. After dropping to 41% in 2023, it rebounded to 45% in 2024.

In terms of shipbuilding nations, Clarksons' data shows that in November 2025, the majority of new alternative-fuel vessel orders were taken by South Korean shipyards, with a total of 23 vessels (1.31 million CGT). By CGT, this accounted for 53.52% of the global alternative-fuel new orders in November 2025, ranking first worldwide. All orders received were for LNG dual-fuel vessels.

Meanwhile, Chinese shipyards secured a total of 25 alternative-fuel vessel orders (0.72 million CGT) in November, capturing a market share of 29.58%. These included 12 LNG dual-fuel vessels (0.55 million CGT) and 13 battery/hybrid propulsion vessels (0.17 million CGT).

According to Clarksons' data, overall, in terms of tonnage, the proportion of vessels in the operational fleet capable of using alternative fuels or propulsion systems has now risen to 9.2%, higher than the 2.6% in 2017 and 6.5% at the beginning of 2024. Among the total of 2,692 alternative-fuel vessels currently in operation, there are 1,535 LNG-powered ships, 94 methanol-powered ships, 150 LPG-powered ships, 778 battery/hybrid propulsion ships, and an additional 298 vessels using other fuels.

Furthermore, among the orderbook, alternative-fuel vessels account for as much as 49.2%, higher than the 11.4% in 2017 and 48.8% at the beginning of 2024. In terms of tonnage, 35.6% of the orderbook consists of LNG-powered vessels (1,012 ships), 8.8% are methanol-powered vessels (321 ships), and 1.8% are LPG-powered vessels (135 ships). Additionally, approximately 2.9% (around 559 ships) use other alternative fuels, including 37 hydrogen-fueled, 57 ethane-fueled, 45 ammonia-fueled, 20 biofueled, and 534 battery/hybrid propulsion vessels. The total number of alternative-fuel vessels in the orderbook amounts to 2,027 ships.

With the expanding range of future fuel choices, the number of alternative-fuel-ready ships is also on the rise. Currently, there are 624 LNG-ready vessels in the operating fleet, with an additional 234 in the orderbook. At the same time, the orderbook includes 316 ammonia-ready vessels, 777 methanol-ready vessels, and 19 hydrogen-ready vessels.

Meanwhile, the latest statistics from DNV’s Alternative Fuel Insight (AFI) platform indicate that in November of this year, a total of 10 new alternative-fuel vessel orders were placed, all of which were LNG dual-fuel ships, comprising 6 container vessels and 4 tankers. In comparison, alternative-fuel vessel new orders in November 2024 amounted to as many as 27 ships.

DNV’s data shows that in the first 11 months of 2025, cumulative orders for alternative-fuel vessels reached 232 ships, a 53% decline compared to the same period in 2024, reflecting a general slowdown in the newbuilding market. Among these, container vessels continue to dominate, accounting for 66% of all orders. In terms of fuel type, LNG remains the most favored choice, with LNG dual-fuel vessels making up 67% of all alternative-fuel ship orders this year, followed by methanol dual-fuel vessels at 20%.

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, stated, "Following a rebound in order volumes in October, alternative-fuel vessel orders have slowed down again, reflecting the overall market trend in the second half of the year. Nevertheless, the order pattern remains clear: LNG dual-fuel vessels continue to dominate, largely driven by the container vessel segment. Despite lingering regulatory uncertainty, cargo owners and shipowners remain the core forces driving maritime decarbonization."