Hydrogen, Methanol Gain Momentum In Crude, Vlcc Segments On New Ship Orders

in International Shipping News

10/04/2025

The maritime industry’s shift toward alternative fuels has gained momentum, with two shipping companies recently announcing new projects involving some of the world’s first hydrogen-powered cruise ships and methanol-fueled VLCCs.

On April 8, Italian shipbuilder Fincantieri said it will construct two ships powered by hydrogen propulsion and fuel cells for Viking Line and added that those would be the world’s first ships of its kind.

The ships, which can accommodate 998 guests each, are due to be delivered in 2026 and 2027, respectively.

“Viking made the principled decision to invest in hydrogen, which offers a true zero-emission solution,” the Finnish line’s CEO Torstein Hagen said in a statement.

The Viking Libra “will have a propulsion system based partially on liquefied hydrogen and fuel cells” with a power output of 6 MW, Viking said.

The hybrid system will enable the ship to navigate and operate with zero emissions, allowing it “to access even the most environmentally sensitive areas,” the company said.

Fincantieri said the ship will employ IFM polymer electrolyte membrane fuel cells optimized for cruise operations.

The ship will sail on a number of itineraries across Europe, though Viking did not disclose where it would source hydrogen from.

VLCC order

In a separate statement April 7, Japanese shipping major NYK Line revealed its order for a dual-fuel VLCC capable of running on methanol, further expanding the fuel’s adoption in the tanker segment.

When delivered from Nihon Shipyard in 2027, the 310,000-dwt ship will be chartered to Idemitsu Tanker, part of Japanese refiner Idemitsu Kosan, and among one of the world’s first methanol-capable VLCCs.

In late 2023, state-owned China Merchants Energy Shipping ordered the world’s first methanol-capable engine for VLCCs from MAN for its ship under construction at Dalian Shipbuilding Industry Co. The ship is due in 2026.

Across all segments, classification society DNV records 13 ships with hydrogen propulsion in operation and on order and 403 that can be fueled by methanol currently.

The adoption of hydrogen and methanol as marine fuels presents different technical challenges and infrastructure requirements. While methanol can utilize existing bunkering infrastructure with modifications, hydrogen requires new storage and handling systems due to its specific properties.

Hydrogen and methanol, when generated from sustainable means, could have strong decarbonization potential for shipping companies, but industry participants said high prices and limited availability are expected to limit their uptake through this decade.

Platts, part of S&P Global Commodity insights, assessed the price for hydrogen produced from alkaline electrolysis based on renewable power purchase agreements at Eur8.54/kg ($9.31/kg) April 7.

February’s average bunker price for 20% sustainable methanol was $25.09/Gigajoule in Singapore, compared with $13.66/Gj for 0.5%-sulfur fuel oil, the most common bunker type, according to Platts global bunker cost calculator(opens in a new tab).

Source: Platts