Global orders for alternative-fuelled vessels continued during the first months of 2026, although the pace of new contracts has slowed compared to the previous year. Industry data indicates that shipowners remain committed to decarbonization efforts but are becoming more selective as they evaluate long-term fuel options and investment risks.

According to industry figures, 36 alternative-fuel vessel orders were placed in May 2026, bringing the total number of such orders to 119 vessels during the first five months of the year. Orders included a mix of vessel types, with strong activity recorded in the gas carrier segment, alongside new contracts for LNG- and ethanol-fuelled ships.

LNG continues to be the most widely selected alternative fuel, accounting for a significant share of new vessel orders. The container shipping sector remains a major contributor to demand, although recent ordering activity has shifted toward smaller vessels rather than the larger container ships that dominated previous orderbooks.

Despite continued investment in alternative-fuel technologies, the proportion of alternative-fuelled vessels within overall ship contracting activity remains below the levels seen during the same period in 2025. Industry observers suggest that uncertainty surrounding future fuel availability, infrastructure development, regulatory requirements, and operating costs is influencing investment decisions.

As a result, many shipowners are adopting a diversified approach to fleet development. Rather than committing exclusively to a single fuel pathway, companies are exploring multiple technologies and fuel solutions to maintain flexibility while the maritime industry's energy transition continues to evolve.