• As of Jan 2026 the global order book comprised 5,701 ships
• Represents a combined 49.5 million MToE of bunker demand
• Net increase of 9 million MToE in demand since April 2025
• 7.5 million MToE (83%) of that increase is conventional oil bunkers
• Read the Full Report here: shipandbunker.com/bi/orderbook-bunker-demand 

The eight months leading into 2026 saw the global Orderbook record a net increase of 9 million MToE (metric tonnes of oil equivalent) of bunker demand, with 7.5 million MToE (83%) of that tied to traditional oil fuels, according to the latest analysis by Ship & Bunker.

The insight comes as part of Ship & Bunker’s Global Orderbook Bunker Demand report, recently updated for 2026 Q1 using the latest official vessel fuel consumption data from the IMO, and Orderbook data from Clarksons Research.

A significant proportion of the 7.5 million MToE of oil demand increase was driven by orders for containerships accross a range of sizes.

The eight month period also saw the addition of 1.2 million MToE of LNG bunker demand, 0.4 million MToE of methanol bunker demand, and a slight dip for ‘other’ alternative fuels.

Of note is that contrasting this with the number of ships on order highlights the importance of considering vessel size when analysing future fuel demand, and not just the number of individual units on order.

Indeed, despite an increase in demand for LNG and methanol, compared to Ship & Bunker’s previous analysis in April 2025 the number of LNG and methanol powered ships on order has fallen by 14 and 2 respectively; that is, the orderbook now comprises fewer – but on average larger – ships of these fuel types.

The dip for ‘other’ alternative fuel came despite a net increase of 48 vessels.

Oil-powered units saw a net increase of 748 vessels. 

Overall, as of January 2026 the global Orderbook comprised 5,701 ships representing a combined 49.5 million MToE of bunker demand.

But it is the direction of travel that is of most significance, and that presents a markedly different picture of shipping’s energy transition to that suggested by the topic’s prominence in conference agendas and media coverage.

Presumably of greater concern for those with interests in low-carbon shipping is that it joins a growing list of signals pointing to continued market preference for oil over alternatives that include last October’s delayed IMO NZF vote, stuttering biofuel demand, and leading players pulling back on LNG bunker supply.