Connect with us

LNG Bunkering

Insights: China accounts for nearly a quarter of global LNG volumes in 2025

While Singapore was the standout growth market in 2024, China has emerged as the key growth driver in 2025 and is now accounting for nearly a quarter of global LNG volumes, says Lansdowne Moritz.

Admin

Published

on

China’s rapid rise as the key driver of LNG bunkering in 2025

Boutique advisory firm Lansdowne Moritz on Tuesday (21 October) shared developments of the LNG bunkering market three quarters into 2025: 

Introduction

As we enter the final quarter of the year, total LNG bunkering volumes have already exceeded last year’s total of 2.6 million tons and is on track to hit circa 4 million tonnes for the full calendar year 2025. This update highlights some noteworthy shifts and emerging trends within the market.

Asia withstands gravity and strengthens its lead as the largest market

On first glance, it is perhaps surprising to see that Asia increased its share of global LNG bunkering from 45% in 2024 to 47% in Q1–Q3 2025. This growth in market share comes Against the backdrop of FuelEU Maritime incentives (which should increase LNG bunker volumes in Europe all else equal), a bigger European LBV fleet (23 vs 13), and LNG trading at a ~$0.7/MMBtu discount on average in Europe.

1760954407283

LNG bunker demand growth in China has been particularly strong in 2025 and this theme will be analysed in the following sections. However, it is also important to note that fuel purchasing behaviour cannot solely be explained by bunker market fundamentals; shipping’s primary function is still to move goods and commodities, and bunkering is timed and located to fit the ship’s schedule and wider optimization.

China is the growth machine of the year – but is it structural?

While Singapore was the standout growth market in 2024, China has emerged as the key growth driver in 2025 and is now accounting for nearly a quarter of global LNG volumes.

1760954355372

Because China is central to large containership rotations, Lansdowne Moritz fundamentally expects a significant share of global LNG bunkering to occur there – although China’s current market share may be unsustainably high. China’s current gas balance points to the drivers of current LNG bunker demand growth: rising gas pipeline imports and domestic output, softer demand, and continued supply of long-term LNG contract volumes have created oversupply in the Chinese domestic gas market. With domestic spot gas prices trading below JKM, and the long-term LNG contracts typically linked to Henry Hub or oil and averaging ~$3.5/MMBtu below JKM over the last 12 months, Chinese NOCs (e.g., PetroChina) have been motivated to  re-sell LNG into the bunkering market at very small premiums to JKM while still earning a healthy margin on long-term LNG import contract prices. Hence, China has attracted volumes through highly competitive pricing. However, this advantage may be cyclical rather than structural and could erode over the medium term as market conditions normalise.

Note: The full article by Lansdowne Moritz can be found here

 

Photo credit: Lansdowne Moritz
Published: 23 October, 2025

Continue Reading

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Admin

Published

on

By

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

Continue Reading

LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.

Admin

Published

on

By

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

 

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

Continue Reading

Alternative Fuels

ENGINE on Fuel Switch Snapshot: LSMGO surges to greater premium over biofuel

B100 discount to LSMGO widens to $541/mt in Rotterdam; Singapore’s B100 drops to $106/mt below LSMGO; Rotterdam LBM at $639-833/mt discounts to LSMGO.

Admin

Published

on

By

ENGINE on Fuel Switch Snapshot: LSMGO surges to greater premium over biofuel

Once a week, bunker intelligence platform ENGINE will publish a snapshot of alternative and conventional bunker fuel prices in the world’s two biggest bunkering hubs. The following is the latest snapshot:

20 July 2026

  • B100 discount to LSMGO widens to $541/mt in Rotterdam
  • Singapore’s B100 drops to $106/mt below LSMGO
  • Rotterdam LBM at $639-833/mt discounts to LSMGO

B100’s premium over HSFO in Rotterdam has narrowed by $50/mt over the past week to $64/mt, while its discount to VLSFO has widened by $83/mt to $105/mt.

B100 has become far more competitive against LSMGO in Rotterdam, with its discount widening by $180/mt over the past week to $541/mt, as a surge in conventional fuel prices left B100 broadly unchanged by comparison.

B100’s price has risen by $109/mt in Singapore, but its discount to LSMGO has still widened by $102/mt to $106/mt, as LSMGO surged by an even greater $211/mt.

Rotterdam’s LNG premium over VLSFO has widened by $35/mt to $201/mt for vessels with Otto medium speed (Otto MS) engines. For vessels with diesel slow speed (diesel SS) engines, LNG has flipped to a $15/mt premium over VLSFO, from a $22/mt discount the prior week.

Liquefied biomethane (LBM) discounts to VLSFO in Rotterdam have narrowed by $50-52/mt to $203-396/mt over the past week. Against LSMGO, LBM discounts have widened by $45-47/mt to $639-833/mt, depending on engine type.

In Singapore, LNG is now $42/mt cheaper than LSMGO for vessels with Otto MS engines, and $134/mt cheaper for vessels with diesel SS engines.

ENGINE on Fuel Switch Snapshot: LSMGO surges to greater premium over biofuel

Liquid fuels

HSFO and VLSFO prices in Rotterdam have jumped by $66/mt and $99/mt respectively over the past week, while LSMGO has surged by an even steeper $196/mt. A $9.69/bbl ($71/mt) rise in front-month ICE Brent futures, to $87.94/bbl ($645/mt), drove bunker prices sharply higher across the board.

Bunker fuel availability is tight for prompt delivery dates in the ARA ports, with buyers advised to enquire about stems between 5-7 days ahead to get good coverage, a trader said.

Rotterdam’s B100 price has risen by $16/mt over the past week. Dutch ZRE A ticket prices were unchanged at €107.50/mtCO2e.

Singapore’s HSFO and VLSFO prices have risen by $130/mt and $132/mt respectively, while its LSMGO price has gained an even steeper $211/mt over the past week.

VLSFO availability in Singapore has been tight, with several suppliers reporting low stock levels. Recommended lead times have widened from 13–17 days last week to 14–19 days now.

Liquid gases

Rotterdam’s LNG prices have surged by $134-136/mt over the past week, while its LBM prices have climbed by $149-151/mt.

LBM discounts to LNG in Rotterdam have narrowed by $15/mt to $404-411/mt.

Singapore’s LNG bunker benchmarks have surged by $196-197/mt over the past week.

By Erik Hoffmann

 

Photo credit and source: ENGINE
Published: 21 July, 2026

Continue Reading

Trending