DNV forecasts LNG bunker fleet growth to more than double by 2030

The global LNG bunker vessel fleet may need to more than double by 2030 to keep pace with growing fuel demand, according to a new DNV white paper. This forecast, based on the increasing number of LNG-powered ships and the infrastructure gap, highlights the urgent need for additional bunker vessels.

Current and future demand

According to DNV, the global LNG bunker vessel fleet could expand to between 165 and 208 vessels by 2030. The report, titled "Gas bunker vessels: facilitating the transition to alternative fuels," projects that the current fleet of 900 LNG-capable merchant vessels, outside the LNG carrier fleet, and the additional 650 on order, might not be sufficient to meet the projected demand, especially given the increasing number of ships switching to LNG as a fuel source.

"Shipping’s fuel transition depends on more than ships and fuel choices. It also depends on the infrastructure, supply chains, and operational capabilities needed to make alternative fuels available safely and at scale," said Cristina Saenz de Santa, a DNV executive, in a statement. This underscores the critical role that bunker vessels play in the broader energy transition of the maritime sector.

Infrastructure challenges

The growth in the LNG dual-fuel fleet is stretching the numbers and operational intensity of existing LNG bunker vessels, creating a bottleneck that DNV’s report aims to address. The current infrastructure is under pressure to keep up with the expanding fleet of LNG-powered vessels. This highlights the need for more dedicated LNG bunker vessels to ensure that ships can access the fuel they need without disrupting operations.

"The increasing number of LNG-fuelled ships means that the demand for bunkering services is rising rapidly," said a spokesperson from DNV. "To support the transition to cleaner fuels, the bunker fleet must grow to match the demand, and this growth must happen quickly." The report emphasizes that the transition to LNG is not just about the ships but also about the infrastructure required to support them.

Operational implications

The forecasted growth in the LNG bunker fleet has significant implications for shipping operators. They will need to plan for increased bunker costs, potentially more frequent bunkering stops, and the need to coordinate with a larger network of bunker vessels. Additionally, operators will need to ensure that their ships are compatible with the increasing number of LNG bunker ports and vessels.

"For operators, the challenge lies in not only securing a supply of LNG but also ensuring that the bunkering process is efficient and reliable," said the spokesperson. "This means investing in new infrastructure, developing operational strategies, and potentially expanding the range of ports that can handle LNG bunkering."

What this means for operators

The expansion of the LNG bunker fleet to more than double by 2030 will require shipping operators to adapt their strategies. They will need to invest in more efficient bunker management systems, develop contingency plans for fuel availability, and possibly re-evaluate their ship routing and maintenance schedules to accommodate the growing number of LNG bunkering stops.

Moreover, operators will need to engage with the expanding network of LNG bunker vessels and ports, ensuring that they are compliant with new regulations and standards. This transition presents both challenges and opportunities, as those who can navigate the changing landscape effectively will be well-positioned to benefit from the growing LNG market.