Bunkering is the process of transferring fuel to a vessel or a facility in the form of conventional marine fuels or LNG. As a cleaner and greener fuel, LNG can contribute to IMO’s 2050 target of reducing greenhouse gas emissions (GHG). The Asia-Pacific LNG bunkering market is expected to grow at a CAGR of more than 4.9% over the forecast period. Factors such as shifting trends towards clean energy coupled with stringent government regulations to minimize airborne emissions including sulfur and nitrous oxide are driving the market. However, the slower growth of marine industry is likely to restrain the market.

– Ferries and OSV segment is expected to hold largest share in the Asia-Pacific LNG bunkering market during the forecast period.
– Declining cost of natural gas and upcoming investments in LNG bunkering infrastructure by the market players, owing to stringent government policies are expected to create potential opportunities in the target market over the forecast period.
– China is expected to dominate in the Asia-Pacific LNG bunkering market over the forecast period.

Get the inside scoop with Sample report- https://www.sdki.us/sample-request-87826

Key Market Trends

Ferries and OSV Segment to Dominate the Market

– Offshore support vessel segment is expected to dominate in segment, owing to it being relatively cost effective in terms of offshore exploration and production activities. According to Baker Hughes the Asia-Pacific offshore rig count was 92 in May, 2020.
– Rising investments toward FLNG projects including FPSO and FSRU is expected to further complement the industry size. Prelude floating liquefied natural gas (FLNG) project located in the Browse Basin offshore Western Australia represents the world’s biggest FLNG facility. Operated by Shell Australia, the Prelude FLNG commenced production in December 2018.
– In November 2019, Japanese shipping firm, Mitsui OSK Lines (MOL) and its group company, Ferry Sunflower revealed their plans to build Japan’s first two liquified natural gas – fueled ferries, called Sunflower Kurenai and the Sunflower Murasaki. Ferry Sunflower is expected to charter the vessels and deploy them on its Osaka-Beppu route from the end of 2022 through the first half of 2023.
– Hence, the region is expected to have a positive demand for Ferries and OSV in the LNG bunkering market, during the forecast period.

China to Dominate the Market

– China’s LNG bunkering market maintained its growth momentum in 2019. With coal-to-gas conversion policies, GDP expansion, and industrial recovery, the country’s gas consumption is increasing year-on-year. However, domestic output and pipeline imports are unable to keep up and LNG is needed to bridge this gap.

Get a PDF Sample for more detailed market insights: https://www.sdki.us/sample-request-87826

– China’s natural gas consumption was about 307.3 billion cubic meters with a growth rate of 8.6% when compared to the previous year owing to the increased demand for natural gas in the country.
– In June 2019, ENN Energy Holdings, which is one of the largest LNG users in China, ordered the first LNG bunkering vessel in China. The ship is being built by Dalian Shipbuilding Industry Corporation. The bunkering vessel will have 8,500 cubic meters of capacity and is expected to begin operation by early 2020 in China’s eastern Zhejiang province.
– The country has been investing in LNG bunkering facilities, and LNG as a fuel is already available in many major ports, such as Hong Kong and Shanghai port, and areas impacted by emissions regulations. Furthermore, during the forecast period, Asian LNG prices are not expected to increase significantly. Owing to the above factors, the Chinese LNG bunkering market has a potential for growth in the future.

Competitive Landscape

The Asia-pacific LNG bunkering market is moderately consolidated. Some of the major key players in the market include Central LNG Marine Fuel Japan Corporation, ENN Energy Holdings Ltd, Mitsui OSK Lines Ltd, Sembcorp Marine Ltd, and Toyota Tsusho Corp.

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion,
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter’s Five Force Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

Ask for it and browse full report- Asia-Pacific LNG Bunkering Market

About SDKI :

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Lauren Brown
Shibuya Data Count
Email: [email protected]
Tel: + 81 3 45720790