While the overwhelming majority of vessels in operation continue to run on compliant conventional fuels, there is an emerging consensus that moving towards a decarbonised future will require assets to have greater fuel flexibility.

While regulatory approvals, technological constraints, as well as fuel availability and bunkering supply issues were initially identified as barriers to wider adoption, the progressive adoption of LNG as a fuel is now raising concerns about engine maker capacity.

It has been known for some time that to achieve the level of decarbonisation envisioned by the IMO, as well as an increased number of alternative-fuelled newbuildings, a significant number of existing vessels will need to be converted or modified. As dual-fuel engines take longer to construct, the implications of greater order volumes are beginning to be realised. Some studies have raised concerns that the capacity of yards and engine makers could be severely tested.