LNG EXPECTED TO MEET 24 PERCENT OF GLOBAL MARINE BUNKER FUEL SUPPLY BY 2025

According to a Lloyd’s Register report announced on Monday, global ports expect to see LNG account for 13 percent of the bunker fuel market supply come 2020 and 24 percent by 2025. These conclusions were based on the Lloyd’s LNG Bunkering Infrastructural Survey conducted this year. Approximately 50 ports around the globe were surveyed, with 22 ports responding to the questionnaire. Of the respondents, 15 ports were based in Europe, four in North America and three in Asia. The ports were presented with a list of 18 questions on their views of challenges and their plans for LNG bunkering, with key bunkering ports like Singapore and Amsterdam participating. Notably absent were Rotterdam and Houston. The results showed that some 59 percent of ports surveyed have “specific plans for developing the LNG bunkering infrastructure, and 76 percent of them “believe that LNG bunkering will commence at their port within five years.” By 2020, key European ports will be able to support deep sea bunkering operations as well, the results showed. However, around 90% of ports agreed that port and land safety issues would “need to be harmonized.” Singapore is expected to pioneer the drive for LNG bunkering in Asia since it has already built facilities such as storage and jetties for LNG bunkering barges. LNG bunkering has found impetus in Europe mainly due to ship owners pushing for it and asking port authorities there to encourage the setting up of infrastructure for supplying marine gas fuel. While Europe is in the forefront of LNG bunkering, the US and Canada are fast catching up by setting up facilities and infrastructure rapidly, the survey found.