Recent data from the global ship orderbook reveals a persistent dependence on fossil fuels within the shipping industry. Approximately 93%-97% of the fuels projected for consumption in new shipbuilding will be traditional fossil fuels, primarily oil, which accounts for 83%-85%. The shift towards alternative fuels remains slow, with only 3%-7% of new orders incorporating greener solutions like methanol, ammonia, or hydrogen. This trend clearly indicates that most ships currently under construction are designed to operate on oil or LNG, with a mere fraction exploring environmentally sustainable options.

This overwhelming reliance on fossil fuels highlights some critical challenges facing the maritime sector. The slow adoption of alternative technologies indicates a lack of viable commercial-scale options in the market. Shipowners are hindered by the absence of mature fuel alternatives and limited refueling infrastructure, which underscores the need for increased investment and innovation to facilitate the transition to greener technologies. The industry's hesitance stems from significant concerns regarding the availability, cost, and future technological developments of alternative fuels.

As the global shipping sector grapples with these issues, the implications for climate change and sustainability are profound. Although there is rising interest in cleaner energy sources, the current trajectory suggests that without substantial changes in technology and fuel availability, fossil fuels will continue to dominate marine propulsion for the foreseeable future. This could delay significant progress toward emissions reductions and the shipping industry's broader environmental goals, necessitating urgent attention from policymakers and stakeholders to accelerate the transition to sustainable practices.