01JUNE2018 - NEWS - US LNG bunkering market expected to witness remarkable growth over 2017-2024

With the globe treading on the path of clean energy trends, LNG bunkering industry is expected to carve a steady growth over the forthcoming years.  Myriad mandatory roll outs that have been undertaken by the governmental entities to curtail GHG emissions and contribute to clean environment will also leave an influential impact on the LNG bunkering market size. 
As per a recent news, Caribbean seems to be the next lucrative belt for LNG bunkering industry. The regional shipping sector is reported to seek compliance with the global emission limit for marine fuel,which is claimed to be operational by 2020. Furthermore, it has been also claimed that LNG utilization in Caribbean will reduce cost of power utility generation by 15% to 31%, which will ultimately lead to further investments in LNG infrastructure, propelling regional LNG bunkering market demand.
Boasting a wide application scope across cruise ships, offshore support vessels, bulk carriers, ferries, and container vessels, LNG bunkering market size is forecast to cross USD 12 billion by 2024, with an estimated volume coverage of 18500 kilotons over the coming seven years.Ro-Pax is one of the major segments impacting the overall LNG bunkering market share.