Transparency Market Research Reports: LNG Bunkering Market Size

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Wednesday, 30 December 2015

Global LNG Bunkering Market to Expand at 63.6% CAGR due to Tightening Regulations Regarding Sulfur Emissions

Detailed insights and analysis of the global market for LNG bunkering fuel have been included in a new market research report recently published by Transparency Market Research (TMR).The report includes an analysis of market’s historical statistics to present an overview of the growth trajectory exhibited by the global LNG bunkering market over the past few years and forecasts the course the market is likely to adopt over the report’s forecast period. On the basis of capacity, the market, which had a valuation of mere 70 kilo tons in 2013, is projected to expand at an astounding 63.6% CAGR between 2014 and 2025 and reach 22,540 kilo tons by 2025

In-depth research report on LNG Bunkering Market with Full TOC at : http://www.transparencymarketresearch.com/lng-bunker-fuel-market.html

Since marine vessels, the prime consumers of bunker fuel, spend a large part of their voyage time within emission control zones/areas (ECA), most shipping companies in the global market are making a gradual shift from traditional engines to LNG-fueled engines. The continuously rising marine trading activities and container traffic in Europe and Asia Pacific is boosting the overall adoption of LNG as a bunker fuel in these regions.

As the regulations regarding sulfur emissions continue to tighten, the between the prices of natural gas and conventional fuels is likely to widen. Also, LNG is a good bunkering alternative for shipping companies operating in emission control areas (ECAs). Lower cost of LNG as compared to other variants of bunkering fuels compliant with ECA norms in Europe and North America are the key factors driving an increased demand for LNG bunkering fuels in these regions. The low cost of LNG is also expected to propel the overall LNG bunkering fuel market over the report’s forecast period.

A majority of LNG bunkering stations across the globe are currently located in Northern Europe. These LNG stations are specifically designed to cater to the bunkering needs of inland marine vessels as well as large ships. Financial assistance provided by the European Union and several initiatives adopted by port authorities are further benefitting the LNG bunkering market across Europe.

The continuous decline in natural gas prices in North America is also expected to boost sales of LNG as a bunker fuel in prominent North American ports. A substantial rise in investments aimed at the development of LNG stations in Asia Pacific countries like China and South Korea is expected to drive the market for LNG bunker fuel in the region.

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The report also presents a comprehensive overview of the competitive landscape of the global LNG bunker fuel market with the help of detailed business profiles, SWOT analysis, details regarding business and financial strategies, and recent developments of some of the key companies operating in the global LNG bunker fuel market. The companies profiled in the report include Gasnor AS, Korea Gas Corporation, GDF SUEZ S.A, Harvey Gulf International Marine LLC., and Skangass AS.

Thursday, 3 September 2015

LNG Bunkering Market Segment Forecasts up to 2025,Research Reports:Transparency Market Research

The global LNG bunkering fuel market. The report studies the market’s historical statistics to analyze its growth trajectory over the past few years, and projects the course the market is likely to adopt during the forecast period from 2014 to 2025. Based on capacity, the global LNG bunkering market, which stood at 70 kilo tons in 2013, is anticipated to reach 22,540 kilo tons by 2025, exhibiting a robust 63.6% CAGR between 2014 and 2025. The report, titled “LNG Bunkering Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2025”, is available on the company website for sale.

Browse LNG Bunkering Market Report with Full TOC at http://www.transparencymarketresearch.com/lng-bunker-fuel-market.html

For shipping companies operating in emission control areas (ECAs), LNG represents an attractive bunkering alternative. “The lower cost of LNG bunker fuel than other variants of ECA-compliant fuels in Europe and North America is the primary reason boosting the LNG bunker fuel market in the global scenario”, says a lead TMR analyst. Despite rising opportunities for environment-friendly fuels, LNG bunkering infrastructure has developed only in a couple of ports around the North Sea, the English Channel, and the Baltic Sea, since shipping companies operating in these regions have to adhere to stringent sulfur regulations.

Market veterans anticipate the sulfur emission norms to tighten further, resulting in a widening gap between natural gas and conventional fuel prices. Impelled by such factors, the development of LNG bunkering infrastructure has paced up in the aforementioned European regions. The majority of LNG bunkering stations are currently located in Northern Europe. These stations are designed specifically to cater to the fuel demands of inland vessels as well as large ships docking at ports in ECAs. Enhanced initiatives adopted by port authorities and financial assistance from the European Union are expected to propel the development of LNK bunkering stations across the most prominent trading centers in Europe.

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Continuously dropping prices of natural gas in North America will boost the sales of LNG bunker fuel in North American ports, according to the report. Likewise, Asia Pacific countries such as South Korea and China have substantially invested in the development of LNG bunker fuel. Moreover, no stringent regulations are likely to be imposed on the use of bunker fuel in this region before 2020. Hence, the demand for bunker fuel in Asia Pacific is projected in the report to grow from 2020 onwards.

Bunker fuel is primarily consumed by marine vessels such as bulk and general cargo vessels, tankers, container ships, offshore port vessels, and ferries. Since ferries and support vessels spend their maximum voyage time within ECAs, shipping companies operating these vessels are gradually shifting from traditional engines to LNG-fuelled vessels. Hence, ferries and offshore support vessels account for a major share of the global LNG bunker fuel market. Rising container traffic in both Europe and Asia Pacific will boost the adoption of LNG as a bunker fuel by containers in both the regions. To present a comprehensive market overview, the report also profiles the leading players operating in the market, such as Bomin Linde LNG GmbH & Co. KG, GDF SUEZ S.A, Korea Gas Corporation, Gasnor AS, Skangass AS, and Harvey Gulf International Marine LLC.

Browse Article Of LNG Bunkering Market http://www.transparencymarketresearch.com/article/lng-bunker-fuel-market.htm

The global LNG bunkering market has been segmented as below:

LNG Bunkering Market: End User Analysis

Container Vessels
Tankers Vessels
Bulk & General Cargo Vessels
Ferries & OSV

LNG Bunkering Market: Regional Analysis

North America
Europe
Asia Pacific
Rest of the World (RoW)

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Friday, 7 August 2015

LNG Bunkering Market Research 2014 - 2025

Strict implementation of emission norms is a key factor that drives the global market for LNG bunkering. Most vessel operators and shipping companies have begun exploring alternatives that would enable them to follow the emission norms that are being implemented these days. It is anticipated that 2015 onwards, the limit set on the sulfur content in fuels being used in emission control areas (ECAs) will be brought down.

Browse LNG Bunkering Market Report with Full TOC at http://www.transparencymarketresearch.com/lng-bunker-fuel-market.html

However, more stringent regulations on sulfur emissions will be implemented by 2020. Several vessel owners all over the world are switching to LNG as a bunker fuel mainly because of the rules on reducing sulfur emissions that are being implemented by the IMO (International Maritime Organization) Annexure VI.

At present, only 45 vessels all over the world are making use of LNG as a bunker fuel and most of these bunkers are mainly operational in the inland waterways of Northern Europe. In terms of consumption, the global LNG bunkering market in 2013 stood at 70 kilo tons and is anticipated to expand at a 63.6% CAGR between 2014 and 2025, thereby reaching a total volume of 22,540 kilo tons by the end of the forecast period.

Insufficient Infrastructure to Hamper Market Growth

The global LNG bunkering market is segmented on the basis of end use and geography. On the basis of end use, this market is segmented into ferries and OSV (offshore support vessels), bulk and general cargo fleet, container fleet, and tanker fleet. The segment of ferries and OSV holds the highest share by consumption in the global LNG bunkering market. The design of the LNG bunkering facilities in most European ports is based on the fuel needs of the offshore support vessels and ferries.

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It is expected that tankers and container vessels will soon be adopting LNG as a bunker fuel. With ferries and passenger ships in Europe mainly operating in coastal areas and inland waterways, most shipping companies in this area are gradually taking to LNG as a bunker fuel. Insufficient LNG fuelling infrastructure in prime bunkering destinations and steep investment costs continue to hamper the growth of the global LNG bunkering market.

North America: Regional Leader in the Global LNG Bunkering Market

Geographically, the global LNG bunkering market is segmented into Asia Pacific, Europe, North America, and Rest of the World. North European port authorities have invested huge sums in order to promote the use of LNG as a bunker fuel. Norway, too, is engaged in developing LNG bunkering terminals close to some of its commodity trading centers.

At present, Europe holds the highest share in the global LNG bunkering market. The offshore support vessels and inland ferries operating in this region were some of the very first adopters of LNG as bunkering fuel. As a measure of compliance to sulfur emission standards, North America has begun developing various LNG bunkering terminals.

Browse Press Release Of LNG Bunkering Market http://www.transparencymarketresearch.com/pressrelease/lng-bunker-fuel-market.htm

Most shipping companies in ECAs make use of LNG as a bunker fuel, since it is way more affordable than other ECA-compliant fuels that are available in Europe and North America.

The key companies in the global LNG bunkering market are Harvey Gulf International Marine LLC, Korea Gas Corporation, Gasnor AS, Skangass AS, GDF SUEZ SA, and Royal Dutch Shell plc.