LNG propulsion is taking up a growing share of the tanker market. File Image / Pixabay
Nearly a quarter of tankers currently on order will be able to run on LNG, according to Gibson Shipbrokers.
Some 23% of the current tanker orderbook is for LNG-fuelled newbuildings, the brokerage said in a note on its website last week.
"It would seem that there is still some way to go before LNG fuelled tankers become the dominant vessel type, but as a bunker fuel it is certainly being taken seriously," the company said.
LNG-fuelled ship orders have increased significantly in the past two years in the face of a growing likelihood of carbon emissions regulations being imposed on shipping. The orders have increased this year despite LNG prices surging to record highs.