More than 500 dual-fuel containerships and vehicle carriers are operating worldwide, with total investment in dual-fuel ships delivered and on order surpassing $200 billion, according to the latest World Shipping Council (WSC) Dual-Fuel Fleet Dashboard, released today.
The report shows 503 dual-fuel ships in use as of September, up more than 40% from 358 at the same time a year ago. Another 849 ships are on order, bringing the total delivered or on order to 1,352 ships, according to WSC.
Dual-fuel ships are designed to operate on either conventional marine fuels or alternative fuel types, including renewable and lower-emission fuels, helping to prepare the fleet for the transition to cleaner shipping.
The latest figures highlight companies’ efforts to make that transition despite a lack of regulatory guidance that industry watchers say would accelerate the move to cleaner fuels.
“The container ship and vehicle carrier industry have committed more than $200 billion to ships that can run on cleaner fuels, with more than 500 already sailing and hundreds more on the way,” Joe Kramek, president and CEO of the World Shipping Council, said in a statement Thursday. “The investment is happening, but these ships need commercially competitive alternative fuels to deliver their full potential to reduce emissions.”
The latest figures show that alternative-fuel-capable ships remain the dominant choice for containership and vehicle carrier orders. They account for 65% of containership orders and 97% of vehicle carrier orders, as measured by deadweight tonnage. That compares with 23% across the rest of the global shipping fleet.
The report also shows that orders for conventional-fueled ships have increased compared with a year ago—a move that comes amid continued uncertainty over global GHG regulation at the International Maritime Organization (IMO). The WSC said it supports a global greenhouse gas measure through the IMO as part of that organization’s 2023 GHG Strategy. Such a measure would help close the cost gap between conventional and alternative fuels and provide clear, consistent rules for international shipping, according to WSC.
Without that framework, the industry risks facing a patchwork of regional emissions regulations that will add cost and complexity to global trade, the group also said.
“We need a global measure with clear rules and strong, consistent enforcement that gives companies the confidence to invest in the production of cleaner fuels and the infrastructure needed to supply them,” Kramek said. “We trust IMO member states can come together to deliver that framework. Every delay means increased uncertainty, making the transition harder and costlier for the global economy.”
