LR: Orderbook growth and significant developments in reducing methane slip highlight LNG\u2019s role in maritime decarbonization<\/p>\n
new edition of Fuel for thought: LNG sets out how LNG continues to offer a competitive compliance pathway as EU and IMO regulations tighten.<\/p>\n
Lloyd\u2019s Register (LR) has released its latest Fuel for thought: LNG report, offering a refreshed and data-driven assessment of LNG\u2019s evolving role as a mature and significant fuel in transition for the shipping industry.<\/p>\n
As of March 2026, the dual-fuel LNG fleet has reached 1,665 vessels, with an additional 982 on order \u2014 expanding the gas-fuelled fleet. Although recent developments may have created uncertainty that has impacted investment in alternative fuels, LNG continues to be the key alternative fuel in the existing orderbook.<\/p>\n
Growth is being driven particularly by the container sector, which is on course to more than double its LNG capable fleet, while cruise, tanker and PCC\/RoRo operators are also accelerating their uptake.<\/p>\n
LR\u2019s economic modelling confirms LNG remains the most cost-effective alternative fuel pathway to 2050 under any proposed framework so far.<\/p>\n
The report also shows that blending LNG with bio-LNG and e-LNG could strengthen this advantage further, allowing LNG-fuelled vessels to generate compliance surpluses in the early years of new regulatory regimes.<\/p>\n
A major focus of the updated report is the significant progress in methane slip reduction. High-pressure two-stroke engines are now achieving slip as low as 0.2 g\/kWh, while low-pressure engines fitted with exhaust gas recirculation are delivering reductions of more than 60%.<\/p>\n
However, these improvements are not yet reflected in the emissions factors under both FuelEU Maritime and the IMO\u2019s Lifecycle Assessment guidelines. The report argues that updating these factors will be essential to ensure that regulation reflects current technology and incentivises genuine emissions reductions rather than penalising early movers.<\/p>\n
The report also underlines the importance of upstream emissions and fuel certification. Cleaner LNG production, reduced methane leakage and the growth of independently verified certification schemes are essential if shipowners are to realise the full emissions reduction potential of cleaner supply chains.<\/p>\n
Additionally, the operational considerations of LNG-fuelled vessels during drydocking are examined with recommendations for planning, execution and safety.<\/p>\n
Constantinos Chaelis, Global Gas Segment Director, Lloyd\u2019s Register, said: \u201cLNG represents an immediately deployable, scalable, and well-established fuel in transition that aligns with both operational imperatives and emerging regulatory requirements.<\/p>\n
\u201cAs global bunkering infrastructure continues to expand, renewable gas supply chains mature, and emissions control technologies become more widely adopted, LNG is expected to remain a central component of the maritime sector\u2019s transitional energy landscape.\u201d<\/p>\n
Panos Mitrou, SVP Shipping Strategy, Lloyd\u2019s Register, said: \u201cThe findings in our new report underline that this continued interest in LNG is not solely a bridge to other fuels, but a strategic response to tightening global and regional regulation. We need to intensify our focus on methane emissions, clean LNG variants and improving the LNG value chain GHG footprint.\u201d<\/p>\n
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