DNV Records 38 Alternative-Fuel Vessel Orders in April With LPG and Ethane Carriers Leading Activity

DNV has tracked 38 vessel orders in April 2026 among ships capable of burning non-conventional fuels, with LPG and ethane carriers accounting for the largest combined share at 14 vessels. The April total represents nearly half of the 83 alternative-fuel ship orders booked so far in 2026, providing a meaningful uptick after a slow start to the year and signalling renewed activity across multiple vessel segments including LNG, ammonia, and gas carrier tonnage.

 

Scale and Composition of April Ordering

 

April 2026 marks one of the most active months in alternative-fuel vessel ordering since the start of the year, with 38 newbuild contracts captured by DNV's tracking framework. The activity is significant because it follows a 40 percent year-on-year decline in non-conventional fuel newbuild ordering during the first quarter of 2026, where activity was dominated by LNG-capable tonnage and no ammonia-capable vessels were ordered between mid-2025 and April 2026. The April figures therefore represent both a recovery in absolute volumes and a broadening of the segment mix, indicating that owners are once again committing capital to alternative-fuel tonnage across a wider range of vessel types.

 

LNG Continues to Dominate the Mix

 

LNG remained the dominant alternative fuel in April with 20 orders, comprising eight car carriers, six container vessels, four crude tankers, and two cruise vessels. The continued prevalence of LNG in the order mix reflects the maturity of LNG bunkering infrastructure, the relative availability of LNG dual-fuel propulsion technology across major engine builders, and the perception of LNG as a transition fuel that allows owners to demonstrate emissions improvements while retaining commercial flexibility. The diversity of vessel types ordered with LNG capability, spanning car carriers, container vessels, crude tankers, and cruise tonnage, illustrates how broadly the fuel has been adopted across mainstream commercial shipping segments.

 

LPG and Ethane Carrier Activity

 

LPG and ethane carriers topped the segment list in April with a combined 14 newbuild orders. The strong showing in these gas carrier segments reflects continued demand growth for LPG, ethane, and ammonia transport linked to expanding global trade in petrochemical feedstocks and the early development of clean ammonia trading. Gas carriers are also natural candidates for alternative-fuel capability because they often have the technical option to burn cargo as fuel, providing operational efficiency advantages that conventional cargo carriers cannot match. The continued ordering momentum in LPG and ethane carriers indicates that the underlying trade flow forecasts supporting these segments remain robust despite broader uncertainties in shipping markets.

 

Bulk Carrier Ammonia Orders

 

The most strategically notable development in April was the ordering of four ammonia-fuelled bulk carriers, marking the first ammonia-capable orders since mid-2025. Ammonia remains at an early stage as a marine fuel, with limited bunkering infrastructure, evolving safety frameworks, and developing operational protocols. DNV maritime global decarbonisation director Jason Stefanatos has emphasised that projects like these, and the operational experience gained from them, are essential for moving the industry from concept to capability. Each early commitment to ammonia-fuelled tonnage helps establish the regulatory, operational, and supply chain foundations needed for wider adoption, with the bulker segment now becoming one of the early proving grounds for ammonia in commercial service.

 

Wider Segment Spread

 

Stefanatos has highlighted that April's data shows a wider spread among segments than has been evident in earlier 2026 ordering activity, with notable uptake in tanker and cruise tonnage. The diversification is significant because alternative-fuel adoption has historically been concentrated in container shipping and gas carriers, with slower take-up in tankers, bulk carriers, and other segments. The widening of activity into more vessel types suggests that the commercial case for alternative-fuel tonnage is strengthening across multiple parts of the global fleet, supported by tightening regulatory frameworks, growing charterer interest in lower-emission tonnage, and improving fuel availability projections.

 

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Container Ship Orderbook Reaches Record Levels

 

In parallel with alternative-fuel ordering activity, the global container ship orderbook has reached a record high of 13 million TEU according to Linerlytica, following a fresh wave of new orders. The orderbook-to-fleet ratio has climbed to 38.3 percent, the highest level since the global financial crisis. New shipbuilding contracts during the first four months of 2026 have already exceeded 1.9 million TEU in capacity, and at the current pace total contracting for the year is on track to exceed the 2025 full-year record of 5.1 million TEU. The data points to a continued surge in container shipping ordering, although it also raises concerns about future overcapacity in the segment.

 

Container Ship Composition and Vessel Numbers

 

Data from Xclusiv Shipbrokers indicates that 209 container vessels had been ordered by the end of April, with most of the orders concentrated in the feeder and Handy segments. The shift toward smaller container vessels is consistent with strategic positioning by owners and operators preparing for evolving trade patterns, including the increasing importance of regional and intra-regional services. Smaller, fuel-efficient container tonnage also offers operational flexibility that larger ultra-large container vessels cannot match, particularly in markets where port infrastructure constraints limit the deployment of the largest classes.

 

Implications for Shipowners and Fuel Suppliers

 

The combined data from DNV, Linerlytica, and Xclusiv illustrates a market environment in which both alternative-fuel ordering and overall newbuilding activity remain elevated. For shipowners, the data confirms that the cost of waiting on alternative-fuel decisions is rising, since competitive positioning in chartering, financing, and regulatory compliance is increasingly tied to fleet emissions performance. For fuel suppliers, the continued growth of LNG-capable tonnage and early commitments to ammonia and methanol fuels reinforce the case for accelerated investment in bunkering infrastructure across major hubs. The market is moving from a phase in which alternative fuels were experimental to one in which they are becoming a structural component of fleet planning.

 

Outlook for Alternative-Fuel Newbuilding Through 2026

 

Stefanatos has described the April activity as encouraging after a slow start to the year, with both volume and segment diversification pointing to a healthier alternative-fuel ordering environment. Whether the momentum can be sustained through the remainder of 2026 will depend on a combination of factors, including fuel price differentials, the trajectory of regulatory developments at the IMO and EU, the availability of bunkering infrastructure, and the evolving stance of major charterers on emissions performance. The next several months of ordering data will provide important signals on whether the April uptick represents a sustained shift in market behaviour or a single-period peak driven by specific commercial conditions.

 

Implications for the Wider Shipping Decarbonisation Agenda

 

The April figures provide a useful real-time indicator of how the shipping industry is responding to the regulatory and commercial pressures shaping its decarbonisation trajectory. Continued LNG dominance, growing diversification across vessel segments, and the resumption of ammonia-capable orders all signal that the industry is making practical progress on decarbonisation despite ongoing uncertainty around the IMO Net-Zero Framework and the long-term trajectory of fuel prices. As the regulatory environment continues to evolve and as charterer expectations on emissions performance tighten, alternative-fuel newbuilding activity is likely to remain a central indicator of how shipowners are positioning their fleets for the energy transition.