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AXSMarine reports that despite the overall decline, orders for less polluting cargo vessels are holding share.

AXSMarine data showed that 37% of orders for cargo vessels in 2025 were for cleaner fuel-burning vessels, the same as the previous year, because buyers are uncertain when the global regulations for cutting maritime emission will come into effect.

AXSMarine's data shows that the total gross tonnage, a measure of vessel capacity used by the industry, was 78 million tons from January through October. This is down from 113 millions tons in the same period last year. AXSMarine data showed that orders for 2024 reached a record high of 17 years after ships were rerouted in order to avoid Houthi attacks in the Red Sea. This required more ships to be used to maintain schedules during the longer journeys. Operators also prepared for the new environmental regulations set by the United Nations standard-setting body for international shipping.

AXSMarine's data shows that orders for alternative fuel vessels were down to 29 million GT from 42 million GT during the same period last year. The uncertainty was heightened again last month, when under pressure from delegates of the United States and Saudi Arabia - member countries of U.N.'s International Maritime Organization - voted to delay for one year a vote that would have set global targets to reduce carbon emissions and punish or reward adherence.

Alexander Hadzhigaev is AXSMarine’s vice president for data. He said that the IMO’s Net-Zero Framework has been delayed. "A 'wait-and-see" approach seems to be the most likely outcome, he added.

About 80% of the world's trade is transported by maritime shipping. The shipping industry is responsible for 3% of the climate-warming, greenhouse gases. This percentage will continue to rise without any curbs. Maersk, Hapag-Lloyd and other major container shipping lines have announced that they will continue to reduce carbon emissions from their vessels.

Hadzhigaev stated that more than 70% of the container ships and vehicle carriers ordered from January to October were alternative fuel capable. Bulkers and tankers only accounted for 10-15%, while Hadzhigaev noted that bulkers and tanks accounted for less than 10%.

Liquefied Natural Gas (LNG) remained the most popular alternative fuel. It accounted for 29% of all orders this year. He said that methanol is 9% and ammonia, along with other fuels, represents about 1%. AXSMarine's data shows that methanol is no longer a popular fuel in the container industry. Its share of new orders has dropped from 48% in 2020 to 18% in 2024, and now only 10% in 2025. Fuel availability and costs remain major challenges. (Reporting and editing by Richard Chang; Lisa Baertlein)

(source: Reuters)