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LNG Bunkering Market Growth Will Escalate Rapidly 2018-2026 | Top vendors Royal Dutch Shell Plc., Skangas, ENN Energy, Korea Gas Corporation, Prima LNG, Harvey Gulf International Marine LLC, Bomin Linde LNG GmbH & Co KG, Fjord Line, Crowley Maritime Corpo

10-22-2019 08:17 AM CET | Energy & Environment

Press release from: Coherent Market Insights

LNG Bunkering Market

LNG Bunkering Market

Bunkering is a process of refueling the marine vessels, using pipelines that are connected to the terminal or a direct transfer of fuel from ships or trucks. Ease in transportation and storage of Liquefied Natural Gas (LNG) is expected to be a factor for increasing adoption of LNG bunkering. Its relatively low density and high heating value results in reduction of emission of harmful greenhouse gas.

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The major players in the global LNG bunkering market include Royal Dutch Shell Plc., Skangas, ENN Energy, Korea Gas Corporation, Prima LNG, Harvey Gulf International Marine LLC, Bomin Linde LNG GmbH & Co KG, Fjord Line, Crowley Maritime Corporation, and Polskie LNG.

Market Dynamics

LNG bunkering market is expected to exhibit significant growth over the forecast period (2017–2025). This is attributed to increasing number of vessels and ships using LNG, as it is a clean fuel. Governmental and non-governmental bodies are implementing stringent regulations on emission of harmful gases. For instance, The America Bureau of Shipping (ABS), incorporated a framework of risk assessment considering LNG leakage during bunkering, which includes, leaks from LNG pipes, pumps, tanks or hoses, inadvertent disconnection of hoses, overfilling vessel fuel tanks and external impact. This creates a conducive environment for growth of the LNG bunkering market. However, lack of infrastructure for fueling LNG across bunkering locations is one of the major factors hindering growth of global LNG bunkering market.

Europe was the largest market for LNG bunkering in 2016, owing to stringent government regulations on emission of harmful and increasing offshore oil and gas exploration and production activities. Asia Pacific is expected to project the fastest growth in the global LNG bunkering market during the forecast period, owing to the rising demand for energy and growing use of LNG as a marine fuel.

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Detailed Segmentation:

Global LNG Bunkering Market, By Product Type:
Portable Tanks
Ship-to-Ship
Port-to-Ship
Truck-to-Ship

Global LNG Bunkering Market, By Vessel Type:
Ferries
Cruise-Ships
Bulk and General Cargo Fleet
Offshore Support Vessels
Tanker Fleet
Container Fleet
Others

Mr. Shah
Coherent Market Insights
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#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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