Liquefied Natural Gas (LNG) Bunkering Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2031)

Global Liquefied Natural Gas (LNG) Bunkering Market Trends and Insights

IMO 2020 Sulphur-Cap Compliance Push

The 0.5% sulfur cap that entered force in 2020 eliminated the cost advantage of high-sulfur fuel oil, leaving owners with scrubbers, very-low-sulfur fuel oil, or LNG. Scrubber retrofits stabilized near 5,000 vessels by 2024, while LNG retained a USD 150-250 per metric-ton price edge over VLSFO in major hub ports, tipping newbuild decisions toward dual-fuel engines.^{[1]International Maritime Organization, “IMO 2020 – Ensuring Compliance,” imo.org} Intensified port-state inspections in Singapore and Rotterdam during 2025 raised the cost of non-compliance, accelerating fleet renewal toward LNG-capable tonnage.

Rapid Growth in LNG-Powered Vessel Orderbook

Classification-society data showed 535 LNG-powered ships in service and 509 on order as of April 2024, with container ships accounting for over half of capacity.^{[2]DNV, “Alternative Fuels Insight Platform,” dnv.com} CMA CGM alone contracted 77 LNG-fueled vessels, taking delivery of 44 by mid-2025. The concentration of orders in large container units has created a virtuous loop of predictable fuel demand that underpins further infrastructure spending in hub ports.

Expansion of Global LNG Bunkering Infrastructure

Rotterdam’s Gate terminal completed a 50,000-cubic-meter expansion in 2024, doubling truck-loading throughput for North Sea and Baltic trades. Singapore commissioned a second bunkering terminal in late 2024, boosting simultaneous-bunkering capacity to 12 vessels. China’s Zhoushan terminal commenced operations in early 2025 with 30,000 cubic meters of storage to serve domestic coastal shipping. Despite these gains, a purpose-built bunkering vessel still costs USD 50-80 million, holding back investment in smaller ports.

Cost Competitiveness of LNG Versus Low-Sulphur Fuel Oils

In Singapore, LNG bunker fuel averaged USD 650 per metric ton in the first half of 2025 versus USD 800 for VLSFO, a 19% discount that outweighed LNG’s lower energy density. Long-term supply contracts indexed to oil benchmarks, such as a 10-year agreement between TotalEnergies and CMA CGM signed in 2024, dampen spot-price volatility for large liner operators.

High CAPEX for Bunkering Vessels and Shore Tanks

A 7,500 cubic-meter bunkering vessel demands USD 60-75 million to build and up to USD 8 million annually for operations. Shore-tank investments exceed USD 120 million and involve 24-month permitting under ISO 20519 and the IGF Code, which delays projects in emerging markets.^{[3]International Organization for Standardization, “ISO 20519: LNG Fuel Supply Systems,” iso.org} This cost hurdle forces operators on secondary routes to detour to major hubs or carry additional fuel, eroding LNG’s economic advantage.

Methane-Slip and Life-Cycle GHG Concerns

Well-to-wake studies found methane-slip rates of 2.5-3.5% in high-pressure dual-fuel engines, offsetting roughly one-third of LNG’s CO₂ benefit versus very-low-sulfur fuel oil.^{[4]International Council on Clean Transportation, “Updated Well-to-Wake Emissions Study,” theicct.org} Engine makers introduced low-pressure models in 2025 that cut slip below 1%, yet retrofits cost USD 3-5 million per vessel, raising payback hurdles. The EU’s FuelEU Maritime regulation, effective 2025, penalizes methane slip in carbon-intensity calculations.

Segment Analysis

By End User: Container Fleet Commands Volume and Growth

Container fleet operations accounted for 39.7% of the LNG bunkering market size in 2025 and are projected to grow at a 35.8% CAGR through 2031. CMA CGM’s fleet of 44 operational LNG-powered vessels and 33 additional units on order illustrates the scale commitment by mega-carriers. The ability to negotiate long-term supply contracts and secure priority berths in hub ports underpins adoption. Tanker fleet uptake remains below 2% of the newbuild pipeline because charterers resist freight premiums, and loading terminals in the Middle East and West Africa lack LNG infrastructure. Bulk and general cargo operators face similar obstacles, as cargo-hold space is sacrificed to fuel tanks, and freight markets remain fragmented.

The LNG bunkering market continues to depend on container traffic along Asia-Europe and trans-Pacific corridors, reinforcing infrastructure concentration in Singapore, Rotterdam, and the U.S. Gulf. Ferries and offshore-support vessels in Norway benefit from subsidies that offset 40% of conversion costs, while cruise lines deploy LNG to meet port-city air-quality mandates in the Mediterranean and Caribbean. Future growth hinges on whether IMO tightens 2030 and 2040 carbon-intensity goals enough to tip investment toward methanol or ammonia. Early evidence suggests container carriers will maintain LNG commitments because network volume allows hedging against fuel-price swings and amortizing capital costs across large fleets.

Note: Segment shares of all individual segments available upon report purchase

Geography Analysis

Europe captured 72.4% of the LNG bunkering market share in 2025, supported by early regulatory moves, dense short-sea networks, and the continent’s mature shore infrastructure. Rotterdam, Antwerp, and Scandinavian ports offered simultaneous bunkering for more than 40 vessels by mid-2025. Germany’s repurposed FSRU terminals at Brunsbüttel and Wilhelmshaven added LNG bunkering capability in 2024, serving Baltic and North Sea routes. Updated European Maritime Safety Agency guidelines harmonized safety protocols and simplified cross-border operations in 2024.

Asia-Pacific is forecast to grow at a 40.5% CAGR through 2031, propelled by Singapore’s second terminal, China’s Zhoushan expansion, and South Korea’s deployment of dedicated bunkering vessels. Singapore’s bunkering capacity rose to 12 simultaneous operations in 2024, supporting liner volumes through the Malacca Strait. In China, Zhoushan’s 30,000 cubic-meter shore tanks opened in early 2025, serving domestic coastal feeders and bulk trades. Japan and South Korea favor bunkering vessels over shore tanks to limit upfront capital, though this strategy caps throughput and may require additional assets as the fleet grows.

North America remains a niche, with the U.S. Gulf accounting for most regional volumes. Harvey Gulf operates two bunkering vessels serving offshore supply and container feeders, while West Coast and Canadian ports await clearer regulatory frameworks. South America and the Middle East & Africa contributed less than 3% of 2025 volumes. Petrobras paused expansion in Santos pending domestic gas-price reforms, and Panama lacks LNG storage, diverting bunkering demand to the U.S. Gulf. QatarEnergy’s Q-LNG ordered a bunkering vessel in 2025 for delivery in 2027 to serve Hamad Port, signaling future growth potential in the Middle East.