World News
Shipping May Need Up to 208 LNG Bunkering Vessels by 2030: DNV
Shipping may need up to 208 LNG bunkering vessels by the end of 2030 as LNG-fuelled tonnage and LNG marine fuel demand continue to expand, according to a new white paper released by classification society DNV.
The LNG bunkering fleet currently stands at roughly 70 vessels, while more than 30 additional LNG vessels are contracted for delivery between 2026 and 2029, it said in its Gas Bunker Vessels white paper.
According to DNV's higher-demand scenario, around 208 LNG bunker vessels would be required by the end of 2030.
The scenario follows Clarksons' LNG fuel demand projection and assumes 100% LNG marine use by the LNG-capable fleet in 2030.
A lower-demand scenario puts the requirement at around 165 vessels.
DNV said the existing fleet and orderbook are sufficient to cater to LNG marine fuel demand through 2027, with further fleet expansion needed between 2028 and 2030.
The growth is being driven by the expanding LNG-fuelled fleet.
Around 900 LNG-fuelled vessels, excluding LNG carriers, are currently in operation, with around 650 more on order and expected to enter the fleet before 2030.
LNG consumption by LNG-fuelled ships increased by more than 500% between 2020 and 2024 and is expected to rise a further 167% between 2025 and 2030.
DNV said fleet expansion will also need to be supported by investment in LNG storage, dedicated berths, compatible transfer systems and digital tools for scheduling and operational coordination.
Europe remains the most established LNG bunkering region, while Asia is the main growth engine, with Singapore, China, South Korea and Japan expanding their LNG bunkering capabilities.
The white paper can be downloaded from here.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 865.50 | 8.50 | 1289.50 | 14.50 |
| Rotterdam | 686.50 | 12.00 | 1390.00 | 40.00 |
| Houston | 740.50 | 7.50 | 1388.00 | 1.50 |
| Fujairah | 963.50 | 12.50 | 1666.50 | 19.50 |
| Global 20 Ports Average | 876.00 | 6.00 | 1520.50 | 13.50 |
| Global 4 Ports Average | 814.00 | 10.00 | 1433.50 | 18.00 |
| Global Average Bunker Price | 935.00 | 3.00 | 1594.00 | 14.00 |
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