Global LNG-fuelled fleet to exceed 1,150 by 2028, SEA-LNG reports

The number of liquefied natural gas (LNG)-fuelled vessels has grown significantly from 21 in 2010 to 590 today, with 564 more on order, projecting over 1,150 vessels by 2028.

That’s according to recent reports from SEA-LNG, which also note that LNG-fuelled vessels account for more than 2% of the global shipping fleet, with the order book continuing to grow.

Figures in the report suggest that a further 564 LNG-fuelled vessels are on order and, once fulfilled, these will take the total number of LNG vessels in operation by the end of 2028 to around 1,154.

Added to these are 772 LNG carriers in operation, with a further 341 on order at the end of 2023. This means that over 2,000 of the world’s 60,000 largest vessels are LNG-powered.

Peter Keller, Chairman of SEA-LNG, said that, while there is a basket of fuels that are required for shipping to meet the 2050 emissions reduction targets, the rationale for the LNG pathway remains unchanged.

He continued, “The LNG pathway using liquefied biomethane and eventually hydrogen-based e-methane currently provides the only viable option to making progress towards 2050, starting with immediate carbon reductions, now. LNG also continues to help solve critical local emissions and health related environmental concerns.”

LNG has virtually zero SOx and particulate matter emissions, up to a 95% reduction of NOx emissions, and up to a 23% reduction in GHG emissions.

The International Maritime Organisation (IMO) has laid out several targets to decarbonise shipping, with the goal of achieving Net Zero greenhouse gas emissions by around 2050. One focus of the IMO’s efforts to lower emissions for LNG-powered ships is to reduce the effects of methane slip.

Read more: SEA-LNG calls for increased greenhouse gas regulation from IMO

Methane slip is caused when a small amount of LNG fuel does not burn in the engine and escapes with the exhaust gases instead.

When it comes to cutting the shipping industry’s emissions, LNG has often been recognised as shipping’s fuel of the future. LNG emits 25% less CO2 than other common marine fuels for the same propulsion power, in addition to lower nitrous oxide, sulphur oxide, and particulate emissions.