Shipping data confirms that the liquefied natural gas (LNG) market shows a significant trend in 2025: orders for LNG bunkering vessels have exceeded those for large LNG carriers.
Clarkson’s latest monthly report shows that between January and July 2025, global shipowners ordered a total of 15 LNG bunkering vessels, while only nine large LNG carriers were ordered.
Analysts believe that this order trend is mainly attributable to the limited number of LNG export projects that have obtained final investment decisions (FID) over the past year, thereby suppressing demand for new LNG carrier construction projects.
Market sources also pointed out that the current delivery rate of LNG carriers has exceeded the growth rate of LNG production capacity, putting pressure on the charter market and further suppressing new orders.
According to a report by shipbroker Intermodal, as of the end of July, the ratio of LNG carrier orders to the fleet was 44%, with a total of 332 vessels under construction and a total transport capacity of 55 million cubic meters. Fifty-three vessels are scheduled for delivery by the end of 2025, and 100 vessels are scheduled for delivery in 2026.
In contrast, Clarkson emphasizes that the momentum for ordering LNG bunkering vessels is even stronger, thanks to expectations of strong growth in LNG dual-fuel fleets. Its data shows that LNG bunkering vessels will account for 40% of alternative fuel vessels ordered in 2025 (calculated by total tonnage), up from 31% between 2020 and 2024.
Intermodal data further highlights LNG’s dominant position in the alternative fuel market. Among the existing fleet, there are 1,421 vessels powered by LNG, with a total deadweight of 107 million tons, accounting for 80% of all alternative fuel vessels.