Chicago, Nov. 04, 2025 (GLOBE NEWSWIRE) -- The global LNG bunkering market was valued at US$ 8.29 billion in 2024 and is expected to reach US$ 202.13 Billion by 2033, growing at a CAGR of 42.60% during the forecast period 2025–2033.
The global LNG bunkering market is advancing rapidly as the shipping industry adapts to stricter environmental policies and emission-control mandates. Driven by the International Maritime Organization’s (IMO) push toward decarbonization, shipowners are accelerating adoption of Liquefied Natural Gas (LNG) as a transitional fuel solution. This transition is not just theoretical—it is clearly measured through tangible fleet data. By early 2025, the number of LNG-fuelled vessels worldwide reached 685 units, excluding LNG carriers. In comparison, February 2025 recorded 642 LNG-fuelled vessels actively operating, showcasing continued growth month after month. A record-breaking 169 of these advanced ships were delivered in 2024 alone, illustrating the scale of change in the global shipping landscape.
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From a segmental perspective, detailed fleet composition offers valuable insights in the LNG bunkering market. By December 2024, there were 163 LNG-fuelled tankers, 142 containerships, 57 bulkers, and 56 car carriers using LNG fuel. This diversity of ship types confirms that adoption is not confined to one vertical but extends across multiple maritime segments. The LNG fleet expansion, therefore, serves as a strong leading indicator of structural demand for LNG bunkering services, as every operational vessel represents recurring fuel consumption and logistical support requirements. The result is a thriving ecosystem that drives long-term revenue visibility for LNG bunker fuel providers and infrastructure developers.
Key Findings Shaping the LNG Bunkering Market
| Market Forecast (2033) | US$ 202.13 Billion |
| CAGR | 42.60% |
| Largest Region (2024) | Asia Pacific (54.10%) |
| By Product Type | Ship-to-Ship (STS) bunkering (Dominant) |
| By Application | Cargo fleets (25.50%) |
| Top Drivers |
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| Top Trends |
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| Top Challenges |
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Massive Vessel Order Book Ensures Sustainable Growth Trajectory of the LNG Bunkering Market
The second major finding relates to forward visibility in market demand. Unlike many emerging fuel transitions, LNG’s growth trajectory is already embedded in current shipbuilding orders. As of 2025, there are 632 LNG-fuelled vessels in the global order book, slated for delivery by 2030. Forecasts suggest that more than 1,200 LNG-fuelled vessels will be operational by 2028. These figures offer investors and stakeholders high predictability regarding fuel off-take volumes over the coming decade.
This robust order outlook provides a clear validation of the LNG bunkering market’s long-term viability. Notably, 2024 alone saw a record 264 new LNG vessel orders. Another report from October 2024 accounted for 564 ships on order, further confirming global shipowners’ confidence in LNG as a reliable, transitional marine fuel. Deliveries of dual-fuel vessels are expected to peak in 2025, with approximately 292 new ships set for delivery, up from 198 alternative-fuel vessels delivered in 2024. Among these, the container segment leads the charge with 310 containerships currently on order, followed by 152 car carriers, 96 tankers, and 16 bulkers.
Port Infrastructure Expansion Strengthening Global Accessibility
The backbone of LNG bunkering market growth lies in port readiness. By early 2025, global LNG fuel availability had extended to 198 ports—up from 191 in 2024 and 185 in earlier months of that year. The rapid infrastructure growth is strategically important, as LNG bunkering requires a sophisticated network of cryogenic storage tanks, pipelines, and dedicated bunker vessels.
In addition, construction and planning pipelines highlight the scale of upcoming market expansion. There are currently 81 ports building LNG bunkering facilities and another 78 ports with confirmed project plans. This expansion ensures that LNG-fuelled vessels can access refueling options along major international trade routes without logistical restrictions. For market researchers, such infrastructure investments serve as lead indicators of both public and private capital confidence in LNG's role as a significant marine energy source for the next decade.
LNG Bunker Vessel (LNGBV) Fleet Growth Reflects Scaling Ship-to-Ship Demand
Ship-to-ship (STS) refueling represents the operational heartbeat of the LNG bunkering ecosystem. The LNGBV fleet, therefore, acts as a barometer of expansion to the LNG bunkering market. In 2024, the global LNGBV fleet grew from 52 to 64 operational vessels, confirming the industry's commitment to build dedicated bunkering capacity. By October 2024, the fleet had reached 60 vessels in service, with strong momentum heading into 2025.
Construction and newbuild data further validate this upward trend. There were 18 LNGBVs under construction in late 2024, accompanied by 8 fresh orders in February 2025 and another 13 on order by October 2024. Analysts expect additional deliveries of three new LNGBVs in 2025 and five in 2026. Altogether, 19 new LNGBVs were ordered within the first three quarters of 2025, reflecting how infrastructure supply chains are evolving to serve rising fleet demand. This rapid expansion is critical for enabling flexible, efficient operations—factors that underpin profitability and reliability in the LNG supply ecosystem.
Singapore’s Performance Confirms Asia’s Market Leadership
Singapore has emerged as a benchmark market for LNG bunkering market development in Asia. It recorded 463,948 metric tonnes of LNG bunker sales in 2024, a more than fourfold increase from the 110,850 tonnes sold in 2023. Such exponential growth positions Singapore not just as a regional hub but as the largest LNG bunkering center globally.
Analyzing the month-wise data further strengthens this conclusion. In June 2024, sales peaked at 51,662 metric tonnes, while strong months like October (50,577 tonnes) and May (48,752 tonnes) reinforced year-round consistency. By July 2024, cumulative sales had already hit 255,853 tonnes. This level of activity supports specialized infrastructure investment, exemplified by Singapore’s operation of three dedicated LNG bunkering vessels. From a market standpoint, Singapore’s trajectory demonstrates the financial feasibility of LNG as a marine fuel once economies of scale and efficient regulatory frameworks are in place.
Rotterdam’s Recovery Underscores Europe’s Commitment
Europe’s LNG bunkering market finds its strongest expression in Rotterdam, the continent’s largest and most technologically advanced port. In 2024, Rotterdam achieved a total LNG bunkering volume of 941,366 cubic meters, signaling robust recovery and expansion following earlier volatility in energy prices. The positive trend continued into 2025, with first-quarter figures reaching about 230,000 cubic meters compared to 215,247 cubic meters in Q1 2024.
For investors and analysts, this continuing increase underscores Europe’s unwavering commitment to LNG as an immediate decarbonization strategy. Between January and September 2025, Rotterdam recorded 735,959 cubic meters of LNG bunkered, achieving a record quarterly high of 270,254 cubic meters in Q3 2025. Such consistency provides evidence that LNG bunkering transitions are shifting from pilot stage to mainstream operational integration across European shipping routes.
Operational Milestones Confirm LNG Bunkering Market Maturity
Operational benchmarks offer further proof of the LNG market’s maturity. FueLNG, a key Singapore-based operator, completed its 150th STS operation in March 2024 and went on to execute its 200th transfer by July 2024, showcasing the increasing frequency of safe, large-scale LNG deliveries. Globally, Excelerate Energy reached an even more significant benchmark by completing its 3,000th commercial LNG STS operation in December 2024, highlighting the scalability and safety reputation of LNG transfer operations worldwide.
In North America LNG bunkering market, Seaspan Energy achieved the first-ever STS LNG bunkering in the Port of Long Beach in December 2024, signaling successful technology diffusion into new regional markets. These milestones collectively reflect not only technological advancement but also regulatory and operational confidence critical for sustaining investment inflows in the sector.
Automotive and Container Segments Accelerate Market Penetration
A closer look at market segmentation reveals that car carriers and containerships represent the most aggressive adopters of LNG fuel. Automotive logistics companies are making substantial fleet modernizations, with COSCO SHIPPING launching an LNG dual-fuel car carrier capable of transporting 7,000 vehicles on its May 2025 maiden voyage. The company now operates 20 such carriers and plans to expand to 30 by 2026. Noatum Maritime followed closely, commissioning an LNG-powered PCTC with a 7,000-unit capacity in October 2025.
Container shipping shows a similar trajectory. In 2025 alone, 126 new dual-fuel containerships are slated for delivery, with 81 configured for LNG operation. Pacific International Lines (PIL) has integrated eight LNG-powered vessels into its fleet since 2024, including four 14,000-TEU and four 8,200-TEU models. With twelve additional LNG dual-fuel ships on order, the company represents a key case study in large-scale adoption. For market observers, this signals strong recurring LNG demand from high-frequency, deep-sea routes where fuel efficiency and environmental compliance directly impact profitability.
Key Suppliers Scale Up Global LNG Bunkering Operations
The supplier landscape offers another powerful validation of growing commercial scale. Shell, for example, reported sales of approximately 1.1 million metric tonnes of LNG bunkers in 2024, completing nearly 1,000 operations across 26 locations in 12 different countries. Operating a fleet of 12 specialized bunkering vessels, Shell’s network underscores its unmatched capacity and geographic reach, serving as a bellwether for market maturity.
Similarly, TotalEnergies is expanding its LNG bunkering fleet, operating three vessels across Rotterdam, Marseille, and Singapore, with a fourth—an 18,600-cubic-meter ship—chartered in late 2024. The company’s LNG production capacity stands at roughly 44 million tonnes per year, positioning it as one of the largest integrated suppliers. In parallel, Singapore’s FueLNG joint venture continues to scale, running three major LNG bunkering vessels—FueLNG Bellina, FueLNG Venosa, and others—while surpassing 500 truck-to-ship operations.
From a strategic viewpoint, these supplier developments reveal a vertically integrated approach where producers, distributors, and port operators coordinate to ensure supply reliability and global network redundancy.
Market Outlook Indicates Sustained LNG Dominance Through 2033
Taken collectively, these findings demonstrate that the LNG bunkering market is transitioning from growth phase to early consolidation. Multi-segment adoption, an expanding orderbook, widespread infrastructure investments, and diversified supplier activity all point toward sustained demand well beyond 2030. While future competition from alternative fuels such as methanol or ammonia remains likely, LNG’s entrenched position—supported by existing capital expenditures—will make it the dominant transitional marine fuel through the remainder of this decade.
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LNG Bunkering Market Major Players:
- Bomin Linde LNG GmbH & Co. KG
- Engie SA
- ENN Energy Holdings Ltd
- FueLNG Bellina
- Gas Natural Fenosa
- GazproBneft Marine Bunker LLC
- Harvey Gulf International Marine LLC
- Kawasaki
- Korea Gas Corporation
- Mitsui OSK Lines Ltd.
- Royal Dutch Shell PLC
- Sembcorp Marine Ltd.
- Statoil AS
- Skangas AS (Gasum)
- Total SA
- Toyota Tsusho Corp.
- Other Prominent Players
Key Market Segmentation:
By Product Type:
- Truck-to-ship
- Port-to-ship
- Ship to Ship
- Portable tanks
By Application:
- Container fleet
- Tanker fleet
- Cargo fleet
- Ferries
- Inland vessels
- Other
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
- South America
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