London, UK – SEA-LNG, the industry coalition advocating for the adoption of liquefied natural gas (LNG) as a marine fuel, has released its annual ‘View from the Bridge’ report. The publication underscores 2024 as a landmark year for the LNG pathway, driven by remarkable growth in vessel orders, bunkering infrastructure expansion, and decarbonisation advancements.
Record Growth in LNG-Fuelled Vessels
SEA-LNG’s report reveals a significant surge in the global adoption of LNG as a marine fuel. The number of LNG-fuelled vessels in operation grew by an impressive 33%, reaching 638 vessels worldwide. This expansion is expected to continue, with over 1,200 LNG-fuelled vessels projected to be operational by 2028.
In 2024, LNG dual-fuelled vessels accounted for 70% of alternative-fuelled tonnage ordered—excluding LNG carriers—a notable rise from 43% in 2023. This growth reflects the increasing confidence of shipowners and operators in LNG’s ability to deliver immediate emissions reductions while ensuring long-term regulatory compliance.
Bunkering Infrastructure Expands Globally
The report highlights a significant expansion of LNG bunkering infrastructure in 2024. LNG bunkering services are now available in 198 ports worldwide, with an additional 78 ports planning to introduce bunkering facilities. The number of LNG bunkering vessels also rose by 22%, with over 60 vessels now in operation, ensuring wider access to LNG beyond traditional hubs.
Decarbonisation Milestones and Green Corridor Success
SEA-LNG’s ‘View from the Bridge’ report emphasizes 2024 as a pivotal year for decarbonisation within the LNG pathway. Liquefied biomethane (LBM) has emerged as a viable low-carbon alternative, with SEA-LNG members now offering biomethane bunkers at approximately 70 ports globally.
A key highlight was the successful biomethane bunkering pilot conducted as part of the Methane Track within the Rotterdam-Singapore Green and Digital Shipping Corridor (GDSC). This operation marked the first practical delivery within an international Green Corridor initiative, a milestone that underscores the LNG pathway’s readiness to support shipping’s decarbonisation.
Peter Keller, Chairman of SEA-LNG, commented “Our latest View from the Bridge reaffirms the importance of the LNG pathway as a practical and realistic route to shipping’s decarbonisation now. The LNG pathway provides the path to net zero and will remain critical as the industry transitions to a multi-fuel future.”
Tackling Methane Slip and Regulatory Support
The report also details significant advancements in addressing methane slip, a challenge often cited as a barrier to LNG adoption. Keller emphasized that technical innovations and tighter regulations have reduced methane emissions considerably, with expectations that methane slip will become a “non-issue” by the end of the decade.
Looking ahead, SEA-LNG predicts that the FuelEU Maritime regulation, set to come into effect in 2025, will bolster the LNG pathway. Analysis shows that LNG-fuelled vessels can reduce greenhouse gas (GHG) emissions by up to 23% and remain compliant until 2039. The integration of liquefied biomethane and e-methane is expected to extend compliance through 2050 and beyond.
Practicality Drives Investment
SEA-LNG’s report underscores the practicality of LNG as a marine fuel, offering a clear and incremental pathway to decarbonisation. With a proven track record of technical advancements and a rapidly expanding global infrastructure, LNG provides shipowners and operators with a future-proofed solution for their fleet’s lifespan.
Keller concluded “Shipping stakeholders are investing in LNG because it provides a low-risk, incremental pathway for decarbonisation, starting now.”
This report highlights the growing momentum of LNG as a practical, scalable, and sustainable pathway for the maritime industry, marking another step forward in global efforts to decarbonise shipping.
Click Here for the full report, from SEA-LNG’s official website.
About SEA-LNG
SEA-LNG is an industry coalition that advocates for the adoption of liquefied natural gas (LNG) as a marine fuel. Comprising leading stakeholders from across the shipping, energy, and port sectors, SEA-LNG works to accelerate the transition to a sustainable maritime industry through the development and promotion of LNG as a cleaner fuel alternative.
Source SEA-LNG