LNG-fueled vessels are making notable strides in the global shipping industry, now representing over 2% of the global fleet. When factoring in current orders, this figure jumps to 4% by vessel count and 6% by deadweight tonnage (DWT), according to industry coalition SEA-LNG. This growth, driven by ongoing investments from fleet owners, signals a broader industry shift toward liquefied natural gas as a key alternative fuel.
The rise in LNG-fueled vessels is staggering. From just 21 vessels in 2010, mostly smaller regional ships, the number has skyrocketed to 590 vessels globally. These now include some of the world’s largest container ships, significantly dwarfing those from over a decade ago. With an additional 564 ships on order, the total number of LNG-powered vessels is projected to reach 1,154 by 2028. Also, considering the existing 772 LNG carriers and 341 more on order, more than 2,000 vessels will soon be LNG-powered— a significant percentage of the global fleet of 60,000 large ships.
LNG’s momentum is also reflected in new build orders. DNV reports that LNG dual-fuel vessels account for a third of the new build order book, further solidifying its role in the future of maritime shipping. When using deadweight tonnage as a metric, the LNG-powered fleet in operation and on order represents 6% of the world’s total DWT, or 142.5Mt out of 2,224Mt.
Peter Keller, Chairman of SEA-LNG, emphasized the growing acceptance of LNG among shipowners, stating, “It is gratifying that LNG is finally gaining favor amongst so many shipowners… LNG currently provides the only viable option to making progress towards 2050, starting with immediate carbon reductions, now.” He highlighted LNG’s environmental benefits, such as virtually zero SOx and particulate matter emissions, along with significant reductions in NOx and GHG emissions.
While the environmental advantages of LNG are compelling, engineering efforts across the industry continue to address challenges like methane slip. Diesel-cycle engines, which dominate the order book, have effectively eliminated slip, and advancements in low-pressure 4-stroke engines have cut methane slip by over 85% in the past 25 years.
The expanding infrastructure around LNG bunkering supports this growth. LNG is now available in 185 ports worldwide, with 50 more ports expected to join the network next year. The number of bunkering vessels has also grown significantly, from just one in 2010 to 60 today, with 13 more on the way. This infrastructure is ready to support future fuels like liquefied biomethane (bio-LNG) and e-methane, providing shipowners confidence that vessels ordered today will be viable well into the future.
The rapid expansion of LNG-fueled vessels underscores the growing recognition of LNG’s role in maritime decarbonization efforts.
