Dual-fuel ship investment surpasses $200b

Total of 503 dual-fuel ships are operating worldwide.

More than 500 dual-fuel container ships and vehicle carriers are operating worldwide, with investment in vessels delivered and on order exceeding $200b, according to the World Shipping Council (WSC).

The WSC’s Dual-Fuel Fleet Dashboard showed that 503 dual-fuel ships were operating as of September 2026, up 41% from 358 a year earlier. Another 849 ships are on order, bringing the total delivered or on order to 1,352.

These vessels can run on conventional marine fuels or alternative fuels, including renewable and lower-emission options, as the shipping industry prepares to reduce emissions.

“The container ship and vehicle carrier industry have committed more than $200b to ships that can run on cleaner fuels, with more than 500 already sailing and hundreds more on the way,” said Joe Kramek, president and CEO of the WSC. “The investment is happening, but these ships need commercially competitive alternative fuels to deliver their full potential to reduce emissions.”

Alternative-fuel-capable vessels account for 65% of container ship orders and 97% of vehicle carrier orders by deadweight tonnage, compared with 23% across the rest of the global shipping fleet.

Despite the shift towards alternative fuels, orders for conventional-fuelled ships have also increased from a year earlier as the overall orderbook expanded. The WSC attributed the uncertainty surrounding future investment decisions partly to continued uncertainty over greenhouse gas regulations at the International Maritime Organization (IMO).

“Ships ordered today will be operating for decades. Shipping companies and fuel producers need certainty to make the investments that will shape the future fleet and its fuel supply,” Joe Kramek said.

The WSC supports a global greenhouse gas measure through the IMO in line with the organisation’s 2023 GHG Strategy. It said a global framework would help narrow the cost gap between conventional fuels and renewable and near-zero-emission alternatives, while establishing consistent rules for international shipping.

Without a global framework, the industry risks facing a patchwork of regional emissions regulations that could increase complexity and costs for global trade.

The WSC called for clear rules and consistent enforcement to give companies the confidence to invest in cleaner fuel production and supply infrastructure.

Kramek said delays in establishing a global framework would increase uncertainty and make the transition more difficult and costly for the global economy.