Industry Coalition SEA-LNG highlights that the LNG pathway is maturing far faster than other alternative fuels. However, the LNG pathway still needs more investment, especially in landside facilities for liquefaction near ports, bio and synthetic methane production and bunkering capacity worldwide.
SEA-LNG notes that while the approximately 2,200 LNG-fuelled vessels and LNG carriers represent only ‘two minutes into the hour’ of the global fleet of approximately 60,000 deep sea vessels, it remains an adolescent fuel that is maturing significantly faster than other alternatives.
However, the bunker market, while growing substantially, is lagging and concerns persist regarding the ability to supply the rapidly growing fleet of LNG-fuelled vessels.
SEA-LNG, a multi-sector industry coalition whose members work together to demonstrate the benefits of LNG as a marine fuel, highlights that “the delivery of the fuel to vessels must be assured and the investment gap closed.”
“While investment in newbuild LNG-fuelled ships is robust, we need to see the same for bunker vessels, supply and liquefaction infrastructure,” said Peter Keller, chairman of SEA-LNG.
There are approximately 60,000 deep sea ships on the water and, today, we’re looking at around 600 LNG capable ships afloat with a further 600 on order, according to Keller.
There are another 1,000 LNG cargo carriers and bunker vessels of varying sizes.
Keller also mentioned that LNG is more of a “teenager, compared to traditional fuels, with all the growing pains, challenges and victories associated with adolescence,” but as he said it is maturing all the time.
