Global LNG bunker sales are projected to reach 4 million mt this year, having already surpassed the 2.6 million mt recorded for all of 2024, according to Lansdowne Moritz.

IMAGE: Bunker delivery vessel supplying LNG in the Port of Amsterdam. Titan

Asia increased its share of global LNG bunker sales to 47% in the first three quarters of 2025, compared to 45% in 2024, advisory firm Lansdowne Moritz estimates.

Asia has grown despite Europe’s FuelEU Maritime incentives and bigger LNG bunker vessel fleet, the report said.

China, Singapore and the Netherlands have made up more than 50% of total LNG bunker demand so far this year. China’s share was highest at 24%, up from 16% in 2024.

While China’s large share of global LNG bunkering this year partly reflects the high number of container ships calling at its ports, it has also been driven by temporarily low gas prices and oversupply – conditions that may ease as the market normalises, the report said.

Meanwhile, Singapore’s and Rotterdam’s share of the total have slipped, the report points out. This is despite a 9% year-on-year rise in Rotterdam's aggregate sales in the first three quarters of the year, and a 19% rise in Singapore's.

Actual demand increases

Most LNG-powered vessels are dual-fuel, allowing them to switch between LNG and conventional fuels depending on price, availability and emission rules. There are currently 788 LNG-capable ships in operation worldwide, with 631 more on order for delivery by 2033, according to DNV's latest figures. 

The theoretical volume this LNG dual-fuel fleet would burn if it ran exclusively on LNG is known as nominal demand. The actual demand is a fraction of the nominal demand. 

The report estimates that this actual global demand has increased to 50% in the first three quarters of 2025, up from 43% in the 2024 calendar year. This gain came despite of increasing LNG prices and decreasing conventional fuel prices.

Lansdowne Moritz said this could be because of the significant cost advantage provided by FuelEU Maritime incentives and said it expects the ratio to rise further with increasing LNG supply, expansion of the global LNG-capable fleet, and rising penalties on conventional fuels under regulatory frameworks. 

By Nachiket Tekawade

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