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Published Date: 2015-01-19Number of Pages: 93

LNG Bunkering Market (By Vessel Segment - Tankers, Container Ships, Bulk & General Cargo Vessels, and Ferries & Offshore Support Vessels): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2025

Global LNG Bunkering Market: Snapshot 

The new legislation from the United Nations’ shipping agency has set new limits for sulfur emissions from vessels that would come into effect from 2020. LNG as a bunker fuel has the inherent properties to comply with environmental emission norms that are to come into effect in future. This is because it has negligible sulfur content and its combustion emits low NOx as compared to that produced by fuel oil and marine diesel oil. 

At present, only 45 vessels globally utilize LNG as a bunker fuel with the majority of these vessels operating in the inland waterways of Northern Europe. Nevertheless, port authorities in Northern Europe are investing substantially in promoting the use of LNG as a bunker fuel. For example, Norway is investing substantially for the development of LNG bunkering terminals at major trading ports. In Norway, the presence of several small-scale LNG production units enables easy distribution of LNG to bunker terminals. 

Despite economic and environmental benefits, adoption of LNG is presently restricted to offshore support vessels and passenger ships. Underdeveloped infrastructure for handling LNG bunkering in world’s major ports is considerably challenging the growth of LNG bunkering market. 

Nevertheless, projects underway for the development of LNG refueling infrastructure in world’s major ports is expected to boost the adoption of LNG bunker and may even be used by the mainstream marine sector. Furthermore, the emergence of policy based support network and strict emission compliance regulations in place will play a crucial role in the development of LNG bunkering industry. 

Europe to Continue Lead over Forecast Period 

At present, Europe tops among other regional markets for LNG bunkering. Inland ferries and offshore support vessels are the initial adopters of LNG as a bunker fuel in the region. Several pre-investment studies have been carried out at major ports in Europe to gauge the feasibility of expansion of LNG bunkering capacities. 

North America is also emerging as a significant market for LNG bunkering to comply with sulfur emission norms for marine vessels that will come into effect in the near future. The economical prices of natural gas compared to fuel oil and diesel oil is attracting shipping companies to make investments for LNG fueled vessels. In addition, In North America, the shale gas boom is a crucial development encouraging gas distribution companies to make investments in LNG bunkering services. 

China and South Korea are taking initiatives for the use of LNG as a marine bunkering fuel. 

Ferries and Offshore Support Vessels to Continue as Leading End-user for LNG Bunker 

At present, ferries and offshore support vessels (OSVs) account for the major consumption of LNG as a bunker fuel. They are expected to display the leading consumption of LNG bunker until 2020. The LNG bunkering facilities at existing European ports have been designed to serve the fuel needs of OSVs and ferries. Passenger ships and ferries in Europe ply in inland waterways and thus shipping companies are switching to LNG bunker fuel to comply with sulfur emission regulations. 

In Asia Pacific, deep-sea ships predominantly tankers and container ships are expected to use LNG bunker after strict regulations for sulfur emissions have been enforced. In North America, container ships and tankers are expected to be the primary consumers of LNG bunker over the forecast period. Tanker vessels are expected to be dominant end-user of LNG bunker fuel in the Rest of the World region in the future. 

Some of the leading companies in the global LNG bunkering market are Harvey Gulf International Marine LLC, Skangass AS, Gasnor AS, GDF SUEZ S.A., and Korea Gas Corporation.

 

Chapter 1 Preface

1.1 Report Description

1.2 Research Scope

1.3 Market Segmentation

1.4 Research Methodology

 

Chapter 2 Executive Summary

2.1 Global LNG Bunkering Market

 

Chapter 3 LNG Bunkering Market – Industry Analysis

3.1 Introduction

3.2 Value Chain Analysis: LNG Bunkering Market

3.3 Market Drivers

      3.3.1 Compliance with IMO (International Maritime Organization) Regulations to use Clean Fuels in Emission Control Areas (ECAs) 

              3.3.1.1 Global Fuel Sulfur Limits Within and Outside ECAs

      3.3.2 LNG is an Economical Fuel Option Compared to Distillate Fuels in Europe and North America

      3.3.3 Increasing LNG Bunkering Requirements from Coastal & Inland Ferries, and Offshore Support Vessels

             3.3.3.1 Global Offshore Oil and Gas Production Estimates and Forecast, by Region, 2013 – 2020 (Million Barrels/ Day) 

3.4 Market Restraints

      3.4.1 Lack of LNG Fueling Infrastructure in Major Bunkering Destinations and High Investment Cost for New Built LNG Fueled Ships Slowing Adoption Rates

      3.4.2 Alternative Approaches Adopted by Shipping to Meet IMO Regulations Might Restrain the LNG Bunker Fuel Market

              3.4.2.1 Strategies That Can be Adopted by Shipping Agencies in ECAs

3.5 Market Opportunities

      3.5.1 Expansion of ECAs Expected to Enhance Demand for LNG Bunkering

              3.5.1.1 Existing and Future Emission Control Areas

3.6 Porter’s Five Forces Analysis: LNG Bunkering Market

      3.6.1 Bargaining Power of Suppliers

      3.6.2 Bargaining Power of Buyers

      3.6.3 Threat From New Entrants

      3.6.4 Degree of Competition

      3.6.5 Threat From substitutes

3.7 LNG Bunkering Infrastructure

      3.7.1 Current Development Status of LNG Bunkering Infrastructure Globally, by Ports, 2013

 

Chapter 4 LNG Bunkering Market: End-Use Analysis

4.1 Global LNG Bunkering Market: End-Use Overview

      4.1.1 Global LNG Bunkering Market, Volume Share by End Use, 2020 and 2025

4.2 Tanker Fleet

      4.2.1 Global LNG Bunker Consumption by Tanker Fleet, 2013 – 2025 (Kilo Tons) 

      4.2.2 Global LNG Bunker Consumption by Tanker Fleet, 2013 – 2025 (USD Million) 

4.3 Container Fleet

      4.3.1 Global LNG Bunker Consumption by Container Fleet, 2013 – 2025 (Kilo Tons) 

      4.3.2 Global LNG Bunker Consumption by Container Fleet, 2013 – 2025 (USD Million) 

4.4 Bulk and General Cargo Fleet

      4.4.1 Global LNG Bunker Consumption by Bulk and General Cargo Fleet, 2013 – 2025 (Kilo Tons) 

      4.4.2 Global LNG Bunker Consumption by Bulk and General Cargo Fleet, 2013 – 2025 (USD Million) 

4.5 Ferries and OSV

      4.5.1 Global LNG Bunker Consumption by Ferries & OSV, 2013 – 2025 (Kilo Tons) 

      4.5.2 Global LNG Bunker Consumption by Ferries & OSV, 2013 – 2025 (USD Million) 

 

Chapter 5 LNG Bunkering Market: Regional Analysis

5.1 Global LNG Bunkering Market: Regional Overview

      5.1.1 Global LNG Bunker Fuel Consumption Market, Volume Share By Region, 2020 and 2025

5.2 North America

      5.2.1 North America LNG Bunker Consumption Estimates and Forecast, 2013 – 2025 (Kilo Tons) 

      5.2.2 North America LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (USD Million) 

      5.2.3 North America LNG Bunker Fuel Consumption Estimate and Forecast, by End Use Segment, 2013 – 2025 (KiloTons) (USD Million) 

5.3 Europe

      5.3.1 Europe LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (Kilo Tons) 

      5.3.2 Europe LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (USD Million) 

      5.3.3 Europe LNG Bunker Fuel Consumption Estimate and Forecast, by End Use Segment, 2013 – 2025 (Kilo Tons) (USD Million) 

5.4 Asia Pacific

      5.4.1 Asia Pacific LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (KiloTons) 

      5.4.2 Asia Pacific LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (USD Million) 

      5.4.3 Asia Pacific LNG Bunker Fuel Consumption Estimate and Forecast, by End Use Segment, 2013 – 2020 (Kilo Tons) (USD Million) 

5.5 RoW

      5.5.1 RoW LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (Kilo Tons) 

      5.5.2 RoW LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (USD Million) 

      5.5.3 RoW LNG Bunker Fuel Consumption Estimate and Forecast, by End Use, 2013 – 2020 (Kilo Tons) (USD Million) 

 

Chapter 6 Company Profiles

6.1 Gazpromneft Marine Bunker LLC

      6.1.1 Company Overview

      6.1.2 Financial Overview

      6.1.3 Business Strategy

      6.1.4 Recent Developments

6.2 Royal Dutch Shell plc

      6.2.1 Company Overview

      6.2.2 Financial Overview

      6.2.3 Business Strategy

      6.2.4 Recent Developments

6.3 GDF SUEZ S.A

      6.3.1 Company Overview

      6.3.2 Financial Overview

      6.3.3 Business Strategy

      6.3.4 Recent Developments

6.4 Bomin Linde LNG GmbH & Co. KG

      6.4.1 Company overview

      6.4.2 Financial Overview

      6.4.3 Business Strategy

      6.4.4 Recent Developments

6.5 Skangass AS

      6.5.1 Company Overview

      6.5.2 Financial Overview

      6.5.3 Business Strategy

      6.5.4 Recent Developments

6.6 Gasnor AS

      6.6.1 Company Overview

      6.6.2 Financial Overview

      6.6.3 Business Strategy

      6.6.4 Recent Developments

6.7 Korea Gas Corporation

      6.7.1 Company Overview

      6.7.2 Financial Overview

      6.7.3 Business Strategy

      6.7.4 Recent Developments

6.8 Harvey Gulf International Marine LLC

      6.8.1 Company overview

      6.8.2 Financial Overview

      6.8.3 Business Strategy

      6.8.4 Recent Developments

List of Figures 

 

FIG. 1 LNG Bunkering: Market Segmentation 

FIG. 2 LNG Bunkering: Research Methodology 

FIG. 3 Global LNG Bunkering Market Volume, 2013 – 2025 (KiloTons) 

FIG. 4 Global LNG Bunkering Market Revenue, 2013 – 2025 (USD Million) 

FIG. 5 Value Chain Analysis of LNG Bunkering Market 

FIG. 6 Fuel Sulfur Limits: Globally & Within ECAs (Actual & Estimated) 

FIG. 7 Global Offshore Oil and Gas Production Estimates and Forecast, by Region, 2013 – 2020 (Million Barrels/ Day) 

FIG. 8 Strategies That Can be Adopted in ECAs to meet IMO regulations 

FIG. 9 Existing and Future Emission Control Areas 

FIG. 10 Porter’s Five Forces Analysis: LNG Bunkering Market 

FIG. 11 Global LNG Bunkering Market, Volume Share by End Use, 2020 and 2025 

FIG. 12 Global LNG Bunker Consumption by Tanker Fleet, 2013 – 2025 (Kilo Tons) 

FIG. 13 Global LNG Bunker Consumption by Tanker Fleet, 2013 – 2025 (USD Million) 

FIG. 14 Global LNG Bunker Consumption by Container Fleet, 2013 – 2025 (Kilo Tons) 

FIG. 15 Global LNG Bunker Consumption by Container Fleet, 2016 – 2025 (USD Million) 

FIG. 16 Global LNG Bunker Consumption by Bulk and General Cargo Fleet, 2013 – 2025 (Kilo Tons) 

FIG. 17 Global LNG Bunker Consumption by Bulk and General Cargo Fleet, 2013 – 2025 (USD Million) 

FIG. 18 Global LNG Bunker Consumption by Ferries & OSV, 2013 – 2025 (Kilo Tons) 

FIG. 19 Global LNG Bunker Consumption by Ferries & OSV, 2013 – 2025 (USD Million) 

FIG. 20 Global LNG Bunker Fuel Consumption Market, Volume Share by Region, 2020 and 2025 

FIG. 21 North America LNG Bunker Consumption Estimates and Forecast, 2013 – 2025 (Kilo Tons) 

FIG. 22 North America Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (USD Million) 

FIG. 23 Europe LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (Kilo Tons) 

FIG. 24 Europe LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (USD Million) 

FIG. 25 Asia Pacific LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (KiloTons) 

FIG. 26 Asia Pacific LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (USD Million) 

FIG. 27 RoW LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (Kilo Tons) 

FIG. 28 RoW LNG Bunker Fuel Consumption Estimates and Forecast, 2013 – 2025 (USD Million) 

List of Tables

 

TABLE 1 Global LNG Bunkering Market: Snapshot 

TABLE 2 Drivers of LNG Bunkering Market: Impact Analysis 

TABLE 3 Sulfur and Nitrogen Oxide Reduction Limits Achieved Using Various Bunker Fuel Grades 

TABLE 4 Restraints of LNG Bunkering Market: Impact Analysis 

TABLE 5 Opportunities of LNG Bunkering Market: Impact Analysis 

TABLE 6 Development of LNG Bunkering Infrastructure 

TABLE 7 North America LNG Bunker Fuel Market Volume Estimate and Forecast, by End Use Segment, 2013 – 2019 (Kilo Tons) 

TABLE 8 North America LNG Bunker Fuel Market Volume Estimate and Forecast, by End Use Segment, 2020 – 2025 (Kilo Tons) 

TABLE 9 North America LNG Bunker Fuel Market Revenue Estimate and Forecast, by End Use Segment, 2013 – 2019 (USD Million) 

TABLE 10 North America LNG Bunker Fuel Market Revenue Estimate and Forecast, by End Use Segment, 2020 – 2020 (USD Million) 

TABLE 11 Europe LNG Bunker Fuel Market Volume Estimate and Forecast, by End Use Segment, 2013 – 2019 (KiloTons) 

TABLE 12 Europe LNG Bunker Fuel Market Volume Estimate and Forecast, by End Use Segment, 2020 – 2025 (KiloTons) 

TABLE 13 Europe LNG Bunker Fuel Market Revenue Estimate and Forecast, by End Use Segment, 2013 – 2019 (USD Million) 

TABLE 14 Europe LNG Bunker Fuel Market Revenue Estimate and Forecast, by End Use Segment, 2020 – 2025 (USD Million) 

TABLE 15 Asia Pacific LNG Bunker Fuel Market Volume Estimate and Forecast, by End Use Segment, 2013 – 2019 (Kilo Tons) 

TABLE 16 Asia Pacific LNG Bunker Fuel Market Volume Estimate and Forecast, by End Use Segment, 2020 – 2025 (Kilo Tons) 

TABLE 17 Asia Pacific LNG Bunker Fuel Market Revenue Estimate and Forecast, by End Use Segment, 2013 – 2019 (USD Million) 

TABLE 18 Asia Pacific LNG Bunker Fuel Market Revenue Estimate and Forecast, by End Use Segment, 2020 – 2025 (USD Million) 

TABLE 19 RoW LNG Bunker Fuel Market Volume Estimate and Forecast, by End Use Segment, 2013 – 2019 (Kilo Tons) 

TABLE 20 RoW LNG Bunker Fuel Market Volume Estimate and Forecast, by End Use Segment, 2020 – 2025 (Kilo Tons) 

TABLE 21 RoW LNG Bunker Fuel Market Revenue Estimate and Forecast, by End Use segment, 2013 – 2019 (USD Million) 

TABLE 22 RoW LNG Bunker Fuel Market Revenue Estimate and Forecast, by End Use segment, 2020 – 2025 (USD Million) 

Bunkering fuel is the fuel oil used by shipping companies for ship operations. The bunkering fuels that have been commonly used comprise heavy fuel grades such as IFO 380 and IFO 180. However, this trend is changing. With increasing sulfur emission legislations implemented by the International Maritime Organization (IMO), an increasing number of vessel owners are considering using liquefied natural gas (LNG) as a bunker fuel. Ship operators, especially in Europe and North America, are switching from heavy fuel oil to LNG fuel. Offshore support vessels, ferries, and passenger vessels are increasingly preferring the use of LNG as a bunker fuel on account of strict sulfur emission standards enforced in ECAs. 

The research provides an in-depth analysis of players in the LNG bunker industry engaged at various levels in the value chain. It covers end user and geographical segments of the LNG marine fuel market. It also provides a detailed analysis, historical data, and a forecast for the featured segments. This study is designed to estimate, analyze, and forecast the LNG bunkering market. The market has been estimated on the basis of both revenue and volume. Increasing seaborne trade is the major factor supporting the growth of the LNG bunker fuel industry. Shipping companies are switching to cleaner fuel grades at numerous regions, leading to a change in bunker fuel consumption patterns. As a result, the preference toward LNG bunker. 

LNG Bunkering Market: Trends and Opportunities 

In regions such as Europe and North America, use of LNG is more economical than marine gas and thus, the demand for LNG is significantly rising. Several new LNG terminals and plants are being constructed, resulting in a positive outlook for the LNG bunkering market. Some specific areas such as the North Sea and the Gulf of Mexico have an established offshore oil and gas industry. Thus, the bunkering demand of offshore vessels operating in these areas is significantly high. 

The global LNG bunkering market faces a few challenges such as the large bunker storage requirements in LNG fueled vessels resulting in a loss of cargo space. Fuel supplying companies have to spend a significant amount of capital on training crew members as LNG bunkering is still in the initial stages of development. In addition to this, LNG ships are only economical if ships spent maximum amount of time in ECAs. However, with increasing concerns regarding sulfur emissions and a possible declaration of new ECAs, the demand for LNG bunkering will increase in the future. 

LNG Bunkering Market: Region-wise Outlook 

The global LNG bunkering market has been broadly segmented on the basis of geography into four regions: North America, Europe, Asia Pacific, and Rest of the World (RoW). RoW encompasses South and Central America, the Middle East, and Africa. Currently, LNG bunkering infrastructure is available at only selected ports across the world. Countries in North Europe are the pioneers of LNG bunkering operations. 

Key Players Mentioned in the Report 

The report discusses key players in the market and the strategies adopted by them. The business and financial overview of players and their recent developments are also given. Korea Gas Corporation, Bomin Linde LNG GmbH & Co. KG, Skangass AS, Gasnor AS, Harvey Gulf International Marine LLC, and GDF SUEZ S.A., are vendors in the market that have been included in the report. 

Market Segmentation of the Global LNG Bunkering Market is as follows: 

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Rest of the World 

This report gives you access to decisive data such as: 

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years 

Key highlights of this report: 

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments


 
 
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