Shipowners are being drawn back towards ordering conventionally powered newbuildings, driven by high prices, leading bankers believe.

Stephen Fewster, global head of ship finance at ING, and Christos Tsakonas, head of shipping at DNB, believe uncertainty over the future fuel of choice for the industry is less of a factor in deterring new contracts.

Fewster told the TradeWinds Shipowners Forum at Posidonia on Tuesday: “What I’m hearing increasingly from a number of clients is they are going to stick with conventional fuel.”