Methanol-fuelled ships built the second-largest alternative-fuel orderbook, 313 vessels cumulative against 663 for LNG, yet new ordering nearly stopped in 2026 with only two to four methanol newbuild orders in the first half. Deliveries continue at 59 in 2025 and 38 in H1 2026, so the binding constraint is green methanol supply and price rather than engine technology.
What it is and how it works
Methanol is a liquid at ambient temperature and pressure, so it is stored in conventional tanks with cofferdams and burned in dual-fuel engines that use a small pilot of conventional fuel for ignition. The reference two-stroke is the Everllence ME-LGIM: Laura Maersk's six-cylinder 6G50ME-C9.6-LGIM is rated 10,320 kW, per Lloyd's List via Kuehne+Nagel, and engine tests reported methanol operation at about the same or slightly better efficiency than a conventional HFO engine. A secondary source, Offshore Industry, states that methanol substitution can reach up to 95% in optimal conditions.
WinGD's X-DF-M is the competing two-stroke platform. Its first engine, a ten-cylinder 92-bore 10X92DF-M described as the largest methanol-fuelled engine built to date, was delivered from CMD Shanghai in early 2025 for a 16,000 TEU container ship after eight classification societies signed the type approval, per WinGD. Four-stroke options come from Wärtsilä (the Wärtsilä 31 Methanol offers 4.7-9.8 MW), Everllence (175DF-M), Rolls-Royce (mtu Series 4000, DNV methanol-readiness certified in August 2026) and Caterpillar, whose MaK M32 and M43 conversion kits run up to 95% methanol or ethanol by volume.
Why it matters now
Methanol went from the Maersk-led breakthrough of 2023 to the second-largest alternative-fuel orderbook: DNV counts 313 methanol vessels cumulatively against 663 for LNG, as reported by Xinde Marine News. But ordering has nearly stopped. DNV counted two methanol orders in H1 2026 and Clarksons four, equal to 0.37% of all newbuild orders by count, while deliveries ran at 59 in 2025 and 38 in H1 2026.
The reason is fuel. Methanex contract prices for November 2026 were about USD 700/t in Asia Pacific, USD 625/t in China and EUR 875/t in Europe for fossil methanol, per Methanex. E-methanol estimates run USD 800-1,600/t historically and 1,600-2,400/t in some 2026 estimates, with electrolysis needing roughly 9.5-10.5 MWh per tonne, according to Hyvoda. A route-level comparison in Green Fuel Journal puts methanol at about USD 610 per TEU against USD 400 for MGO on an intra-Asia Panamax service. Analysts attribute Maersk's 2024-2026 LNG orders to the bumpy road of scaling green methanol.
Key players and products
Maersk operates about 20 methanol-capable container ships, including the 16,000+ TEU A-class, having met its target of 19 by 2026. Its supply deals include a 500,000 t/yr green methanol offtake with Goldwind, with the first stem expected in 2026, and a long-term bio-methanol agreement with LONGi. Hapag-Lloyd ordered eight 4,500 TEU dual-fuel methanol ships from CIMC Raffles in December 2025 for 2028-2029 delivery, per Hapag-Lloyd. Qingdao Beihai ordered ten 7G80ME-LGIM engines for ten 325,000 dwt Vale-chartered ore carriers, and Wärtsilä is converting Stena ferries.
Engine orders outrun ships: Everllence cites 250+ ME-LGIM orders with 100+ in service, and WinGD had 56 X-DF-M engines on order as of March 2025. Methanex is the benchmark fossil supplier.
Figures that matter
| Metric | Value | Source type | Source |
|---|---|---|---|
| Cumulative methanol orderbook (DNV) | 313 vessels vs 663 LNG | aggregator | Xinde Marine News |
| Methanol newbuild orders, H1 2026 | 2 (DNV); 4 (Clarksons, 0.37% of orders) | aggregator | Xinde Marine News |
| Methanol-fuelled deliveries | 59 in 2025; 38 in H1 2026 | aggregator | DNV via Manifold Times |
| Laura Maersk main engine rating | 10,320 kW (6G50ME-C9.6-LGIM) | trade-press | Lloyd's List via Kuehne+Nagel |
| ME-LGIM engine orders | 250+ ordered; 100+ in service | vendor | Everllence |
| X-DF-M engine orders (March 2025) | 56 | vendor | WinGD |
| Fossil methanol contract price, November 2026 | USD 700/t Asia Pacific; USD 625/t China; EUR 875/t Europe | vendor | Methanex |
| E-methanol cost estimates | USD 800-1,600/t; some 2026 estimates 1,600-2,400/t | aggregator | Hyvoda |
Developments 2023-2026
- 14 September 2023: Laura Maersk, the first methanol dual-fuel container ship, is named.
- Early 2025: WinGD delivers the 10X92DF-M, the largest methanol engine built, with type approval from eight class societies; the first three ships of the series will have their diesel engines converted.
- 2025: Qingdao Beihai orders ten 7G80ME-LGIM engines for Vale-chartered ore carriers; Everllence runs a G80ME-LGIMe on ethanol for Vale.
- December 2025: Hapag-Lloyd orders eight 4,500 TEU methanol dual-fuel ships for 2028-2029.
- 1 January 2026: Singapore begins awarding commercial methanol bunkering licences.
- August 2026: Rolls-Royce obtains DNV methanol-readiness certification for mtu Series 4000 engines after 5,000 hours of methanol test running.
- October 2026: The methanol dual-fuel Maersk Halifax bunkers about 5,000 t of certified bioethanol in Singapore, showing ethanol as a drop-in for methanol engines.
Outlook
The methanol fleet will keep growing through 2029 as contracted ships deliver, but new orders depend on green supply arriving at a price competitive with LNG plus EU compliance costs. Confirmation that the Goldwind and LONGi volumes began flowing in 2026 was not found in the research.
