Figures for new orders for alternative-fuelled vessels in the first nine months of 2025 showed a 48% decline compared to the same period last year, classification society DNV said.

Specifically, 192 new orders for alternative-fuelled vessels were placed in the first nine months of 2025, representing a 48% decline compared to the same period last year.

For September, a total of 14 new orders for alternative-fuelled vessels were registered, of which 86% were LNG-fuelled vessels, according to DNV’s Alternative Fuels Insight (AFI) platform.

As disclosed, some 14 new orders for alternative-fuelled vessels were added to the database in September. These included six LNG container vessels, four LNG-fuelled bulk carriers, two LNG-fuelled cruise ships, and two LPG carriers.

After a record-breaking first half in gross tonnage terms, Q3 has seen a notable slowdown in ordering activity, reflecting shifting market dynamics and cautious sentiment across segments.

DNV global decarbonization director Jason Stefanatos said: “While this slowdown must be seen in the context of a weaker overall newbuild market and rising contracting prices, other factors are likely influencing owner behaviour.”

Stefanatos added: “Uncertainty around the IMO’s Net Zero Framework, including lifecycle assessment rates for certain fuels, is prompting a ‘wait and see’ approach across the industry.

“It is, therefore, essential that the industry receives greater regulatory clarity in the coming months.”