The adoption of liquefied natural gas (LNG) as a marine fuel is witnessing significant growth, which in turn is bolstering the demand for LNG bunkering vessels and the necessary port infrastructure. According to Mr. Nikos Tagoulis, a Senior Analyst at Intermodal, this increase reflects a thriving niche market.
As of 2025, the fleet of LNG bunkering units has expanded to 32 vessels, a notable rise from the 18 units counted in 2022. The cumulative capacity of these vessels has surpassed 263,201 cubic meters, more than doubling since 2022, with projections estimating a further increase of around 6% in 2025 and a robust 18% in 2026.
Most of these vessels, averaging six years in age, are constructed in shipyards across China and South Korea, with ownership primarily concentrated in East Asia and Europe. Furthermore, Tagoulis highlighted that the orderbook for LNG bunkering vessels is notably strong, suggesting continued fleet expansion.
In February 2025 alone, there were eight new orders totaling 137,900 cubic meters, raising the overall orderbook to 28 vessels with a combined capacity of 481,400 cubic meters. The orderbook-to-fleet ratio stands at an impressive 183%, indicating strong growth dynamics.
Notably, the average size of newly ordered LNG bunkering vessels has risen to 17,179 cubic meters compared to the current average of 8,225 cubic meters, reflecting a trend towards larger units. The growth of LNG bunkering infrastructure is also significant.
The number of ports equipped with LNG bunkering facilities has increased to 201 globally, up by 60 from 2021. Moreover, an additional 57 ports are expected to upgrade their facilities by the end of 2026.
Despite being influenced by geopolitical issues and price fluctuations, the primary driver in this sector remains the regulatory push for decarbonization. This compels shipowners to invest in LNG-capable vessels to ensure cleaner and more commercially viable fuel solutions.
Overall, the outlook for the LNG bunkering market points towards substantial expansion in the coming years, as noted by Intermodal’s analysts.