Despite softer overall ship ordering compared to 2024, alternative-fuel capable vessels maintained strong momentum in 2025, underscoring the maritime industry’s accelerating energy transition. Owners ordered 590 alternative-fuel capable ships totaling 45.5 million gross tons, lifting the combined in-service and orderbook fleet to 4,542 vessels, or about 2.1% of global tonnage. LNG remained the dominant fuel choice, followed by methanol, LPG, hydrogen, ammonia, and emerging options such as biofuels and nuclear, reflecting a rapidly diversifying fuel landscape. While regulatory drivers like FuelEU Maritime and tightening IMO emissions targets are pushing adoption, the pace of newbuild orders and retrofits still falls short of what is needed to meet the IMO’s 2030 goals. Retrofit demand, energy-saving devices, wind-assisted propulsion, and hull optimization gained importance, but limited shipyard capacity, financing gaps, and workforce readiness continue to constrain progress. Lloyd’s Register warns that although technological advances are tangible and accelerating, global infrastructure, training, and investment remain insufficient, leaving the industry only partially aligned with near-term decarbonization targets as it heads into a critical phase in 2026 and beyond.