As international natural gas shippers look to lower their overall carbon footprints, LNG is increasingly becoming the maritime fuel of choice to meet emissions regulations.
There are currently 830 liquefied natural gas vessels, about 250 of which are still under construction or on order, according to shipbroker Poten & Partners Inc. By 2029, the global fleet of LNG carriers is forecast to grow by 40% and exceed more than 1,000 vessels, according to the International Energy Agency’s latest gas market report.
Despite a rise in orders for ships that can utilize alternative fuels like methanol and ammonia, Rystad Energy reported LNG is still the most popular choice for dual-fuel vessels. Half of the operational LNG-fueled vessels are carriers capable of using boil-off gas as fuel, reducing their reliance on external LNG bunkering.
