LNG has been a fuel option for a long time – with the first trials reaching back to the 1970’s. However, up until a few years ago, as a ship fuel LNG has been confined to LNG carriers – utilising the boil of gas from their cargo - and smaller vessels like ferries, OSVs and other coastal tonnage.
Recently, LNG orders for large vessels have started to take off first in the cruise and container segment and later followed by all other segments including tankers and bulk carriers. In 2020 and 2021, orders from LNG fuelled tonnage represented a significant share of newbuilding gross tonnage for the first time. This surge in the number of larger vessels ordered could spark a real step change for the industry by providing the levels of bunker demand that to support and expand the development of LNG bunkering infrastructure around the world.
Larger newbuildings will support the bunker demand needed to roll-out infrastructure in major ports and around the world. LNG is now easily available along most major trade routes – with more than 100 LNG bunkering solutions in operation globally. And with the same number in development and discussion this will develop alongside the fleet.
Data on tap with Alternative Fuels Insight (AFI) portal
Our Alternative Fuels Insight portal provides a real time picture of both ordering and bunkering infrastructure. Based on the orderbook and installed tank capacity – we expect strong growth in the LNG marine fuel market over the years to come.