LNG bunker vessel orders outpace LNG carrier contracts in 2025

According to Clarksons’ latest monthly update, between January and July 2025 shipowners placed orders for 15 LNG bunker vessels, compared with just nine large LNG carriers.

Analysts attribute this to the limited number of LNG export projects reaching final investment decision over the past year, which has curbed demand for new LNG carrier projects. Market sources also note that vessel deliveries are outpacing new LNG production, pressuring the charter market and further restraining new orders.

Shipbroker Intermodal reports the LNG carrier orderbook-to-fleet ratio stood at 44% at the end of July, with 332 vessels under construction totalling 55M m³. Of these, 53 units are scheduled for delivery by end-2025, with another 100 due in 2026.

By contrast, Clarksons highlights stronger momentum in LNG bunker vessel contracting, supported by expectations of robust LNG dual-fuel fleet growth. Its data shows LNG-fuelling uptake in alternative-fuel tonnage ordered has climbed to 40% in gross tonnage terms this year, up from 31% during 2020–2024.

Intermodal figures further underscore LNG’s dominance in the alternative-fuel market. The existing fleet includes 1,421 LNG-fuelled vessels totalling 107M dwt, or 80% of all alternative-fuel ships.

Recent deals

In the LNG carrier sector, Greece’s TMS Cardiff Gas and Denmark’s Celsius Shipping have each placed orders at Samsung Heavy Industries – four and two vessels respectively – in deals worth a combined US$1.5Bn.

Meanwhile, Spanish owner Ibaizabal has exercised an option for an additional 18,600-m³ LNG bunker vessel at Hudong-Zhonghua Shipbuilding in China.

Other owners active in the LNG bunker vessel segment this year include Evalend Shipping, H-Line Shipping, Shanghai International Port Group, Somtrans, and China Bunker Shanghai.