Driven by regulatory pressure for greener practices, the maritime industry's growing adoption of LNG as a marine fuel has resulted in a surge in LNG-capable vessels. This, in turn, has spurred demand for LNG bunker vessels and port infrastructure, with an additional 57 ports expected to be equipped with LNG bunkering facilities by the end of 2026.
According to Intermodal Shipbrokers, LNG-capable vessels are steadily increasing their share of the global fleet, with 1,329 vessels capable of using LNG as fuel as of March 2025. These vessels have a combined carrying capacity of 110 million gross tons (m gt), representing 6.56% of the global fleet. In comparison, only 558 such vessels existed in 2021.
A similar trend is visible in newbuild orders, with LNG-capable vessels now accounting for 37.79% of the global orderbook, or 1,037 vessels in total.
As a result of this growth, the LNG bunkering market has also seen an uptick in demand, with 32 LNG bunkering vessels currently engaged in ship-to-ship fueling operations as of 2025. The fleet's combined capacity has reached 263,201 cubic meters (cbm), more than doubling since 2022. Projections suggest a further tonnage increase of 6% in 2025, followed by an 18% growth in 2026, according to Intermodal.
The average age of bunkering vessels is now six years, with most units built in shipyards in China and South Korea. Ownership of these vessels is predominantly concentrated in East Asia and Europe, particularly in Japan, South Korea, and Spain.
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In the newbuilding segment, February 2025 saw the placement of eight new orders, totaling 137,900 cbm. This brought the overall orderbook to 28 vessels, with a combined capacity of 481,400 cbm. The orderbook-to-fleet ratio stands at 183%, reflecting strong growth in the sector. Notably, the average size of newly ordered LNG bunkering vessels has increased to 17,179 cbm, up from the current fleet's average of 8,225 cbm, signaling a clear shift toward larger units.
Parallel to the growth of the LNG bunkering fleet, LNG port infrastructure is also expanding. The number of ports with LNG bunkering facilities—featuring storage tanks, LNG distribution pipelines, and advanced safety systems—has increased to 201 globally, up from 141 in 2021. Additionally, an extra 57 ports are expected to be upgraded with LNG bunkering facilities by the end of 2026.
Given these developments, the LNG bunkering market is poised for significant expansion in the coming years, according to Intermodal.
While geological and economic factors will continue to influence the LNG bunkering sector, shipowners are increasingly investing in LNG-capable vessels as part of their strategy to secure cleaner and commercially viable fuel solutions.
In addition, the maritime industry saw a resurgence in engine retrofits for LNG in 2024, as shipowners turned to this option as a short-term solution for carbon reduction, driven by tightening regulatory requirements. Lloyd's Register (LR) highlighted this trend in its latest Engine Retrofit Report.
Editing by Reiner Simanjuntak
