“SEA SPIRIT”/CCS
The service time for the world’s 1000th liquefied natural gas (LNG) carrier has been roughly determined. Data provided by Clarksons shows that as of July 2025, there were 747 LNG carriers in service globally, with another 328 vessels under construction or on order. Based on the corresponding shipyards’ construction progress estimates, the 1000th LNG carrier is expected to enter operation in June 2027. Looking at the growth from another perspective, it means that over 250 LNG carriers will be delivered within two years. While this situation reflects the continuation of the surge in the LNG carrier fleet since 2006, the rapid pace of delivery still astonishes the public. When the 500th LNG carrier appeared in 2017, the delivery of the last 100 ships in the fleet took approximately 3 years.
A Rapidly Arriving New Era
The rapid arrival of the “1000-ship era” is largely driven by concentrated orders in recent years. For instance, around 36 LNG carriers were delivered in the first half of 2025. Looking ahead, 200 ships are scheduled for delivery in 2026 and 2027, after which deliveries will gradually decrease in the early 2030s. This is entirely different from the circumstances surrounding the arrival of the “500-ship era.” In the early days of LNG carriers, the fleet developed steadily, and subsequent growth was orderly. From 1976 to 1996, the global LNG carrier fleet only increased by 75 ships, reaching a size of 88 vessels. It wasn’t until 2006 that it reached 180 ships, and the subsequent delivery of over 300 ships took roughly 10 years. From the industry’s perspective, the stable and sustained growth in the number of LNG carriers during this period was due to scattered orders and demand for LNG that was far less robust than the current market.
Compared with previous decades, the speed and composition of the LNG carrier fleet expansion reveal a situation more focused on ship technology—the majority of ships on order will be built by a few Asian shipyards with top-tier technical capabilities in the industry. At the same time, the choices for containment systems and engine types are relatively concentrated.
In Clarksons’ statistics, over 66% of the global in-service and under-construction LNG carriers are built by five shipyards: 243 from Samsung Heavy Industries, 179 from HD Hyundai Heavy Industries Ulsan Shipyard, 177 from Hanwha Ocean and its predecessor Daewoo Shipbuilding & Marine Engineering, 101 from Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (hereinafter referred to as Hudong-Zhonghua), and 92 from HD Hyundai Samho. Looking at containment systems, a total of 377 LNG carriers use the Mark III Flex type containment system, while the Mark III and NO 96 systems are still widely used. Meanwhile, the NO 96 Super+ system and the NO 96 L03+ system with a Boil-Off Rate (BOR) of 0.1% are being used by 66 ships. The fixation of choices is even more pronounced in the selection of main engines. According to data provided by Clarksons, 376 LNG carriers are equipped with engines supplied by Winterthur Gas & Diesel (WinGD), while 276 and 211 ships are equipped with engines from HHI Engine & Machinery (Everllence) and Wärtsilä, respectively. Although some orders still choose Kawasaki Heavy Industries and Mitsubishi Heavy Industries engines, their market share is declining.
There is another significant difference between the “1000-ship era” and the “500-ship era.” The 1000th LNG carrier might not be an ocean-going vessel dedicated to long-haul LNG transport; it could be a dedicated LNG bunkering vessel. LNG bunkering vessels, now classified as LNG carriers, are specifically built for ship-to-ship bunkering operations, serving dual-fuel container ships, dual-fuel cruise ships, and other large liquefied gas carriers. This type of ship first appeared only in February 2017, shortly before the delivery of the global 500th LNG carrier. However, over the past 5 years, the LNG bunkering vessel market has rapidly expanded, transforming from a niche market into an embedded part of the LNG infrastructure chain, especially in bunkering hubs in Northern Europe, the Mediterranean, and Asia, where this specialized fleet size will continue to grow.
From 2013 to 2017, short-term charter rates supported speculative ordering of LNG carriers. QatarEnergy formally launched the “Hundred Ships Program” in 2019 to support the transportation needs of the North Field expansion project and its joint ventures with ExxonMobil, guiding the second concentrated growth in LNG carrier capacity. In 2025, LNG carrier orders are mostly driven by long-term project-related charter contracts, supported by upstream investments and the involved energy strategies. Clarksons points out that the current LNG carrier fleet is developing faster than ever before. While it took over 40 years to enter the “500-ship era,” the next 500 LNG carriers might enter the market in just 10 years.
New Thrust for Era Advancement
The speed at which LNG carriers enter the market is only part of the narrative of era advancement; the delivery of classic ship types and novel designs from Chinese shipyards makes this progress more tangible.
On September 24, 2025, the 175,000 cubic meter LNG carrier “SEA SPIRIT” built by Dalian Shipbuilding Industry Co., Ltd. (hereinafter referred to as Dalian Shipbuilding), a subsidiary of China State Shipbuilding Corporation Limited (CSSC), for China Merchants Energy Shipping Co., Ltd. (hereinafter referred to as CMES), was named and delivered, with construction survey executed by China Classification Society (CCS). The “SEA SPIRIT” is the first large LNG carrier built by Dalian Shipbuilding and also the first large LNG carrier construction survey undertaken by CCS Dalian Branch. The ship was independently researched, developed, and designed by Dalian Shipbuilding, with a total length of 295 meters, a molded breadth of 46.4 meters, a molded depth of 26.2 meters, and a design draft of 11.5 meters. It integrates multiple international cutting-edge technologies, is equipped with a new type of LNG dual-fuel low-speed main engine and an intelligent exhaust gas recirculation (iCER) system, meeting the International Maritime Organization’s highest emission standards in both fuel oil and gas modes. It adopts an innovative twin-skeg hull form design, combined with an air lubrication system, significantly improving hydrodynamic performance and enhancing propulsion system safety redundancy. The ship’s cargo tanks use the Mark III membrane-type containment system with a boil-off rate of only 0.085%, and it is equipped with a reliquefaction plant to efficiently handle LNG boil-off gas, offering high energy-saving and environmental performance.
The largest ship type in the aforementioned “Hundred Ships Program” comes from Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (hereinafter referred to as Hudong-Zhonghua).
In April last year, China State Shipbuilding Corporation Limited signed a construction agreement with QatarEnergy for 18 of the world’s largest 271,000 cubic meter LNG carriers, setting a global record for the single largest shipbuilding order at that time. This 271,000 cubic meter LNG carrier type was independently designed and built by Hudong-Zhonghua, with a total length of 344 meters, a molded breadth of 53.6 meters, a molded depth of 27.2 meters, and a design draft of 12 meters. It adopts a dual-fuel low-speed engine propulsion system and the NO 96 Super+ containment system. The ship uses a 5-tank layout, is compact in dimensions, and offers a 55.7% increase in tank capacity compared to 174,000 cubic meter LNG carriers. The multi-objective optimized twin-skeg hull form has excellent speed performance. It is equipped with the latest generation cargo containment system for lower boil-off rates, reducing energy consumption per ton-mile of cargo transport by 9.9% compared to 174,000 cubic meter LNG carriers. The tanks use enhanced insulation modules and are configured with a real-time sloshing monitoring system, hull stress monitoring, and an anti-collision system, achieving multiple safeguards and better safety and reliability. It is equipped with a powerful reliquefaction system and a shaft generator reverse assist system for flexible maneuverability. The Carbon Intensity Indicator (CII) is 23% lower than that of 174,000 cubic meter LNG carriers, allowing flexible matching with various operational profiles on different routes. Diversified optimized draft and loading designs enable this ship type to cover major mainstream routes, possessing excellent ship-to-shore compatibility. In September of the same year, Hudong-Zhonghua secured another order for six 271,000 cubic meter LNG carriers, firmly establishing its leading position in innovation in the global very large LNG carrier field.
Hudong-Zhonghua is China’s first shipyard with the capability to build LNG carriers. It took only 16 years from the delivery of its first ship to securing the world’s largest order. The “Dapeng Sun” was the groundbreaking work, delivered in April 2008. The “Dapeng Sun” has a length of 292 meters, a molded breadth of 43.35 meters, a molded depth of 26.25 meters, and a tank capacity of 147,000 cubic meters. It was the world’s largest membrane-type LNG carrier at the time, filling the gap in China’s LNG carrier design and construction sector and entering a market long dominated by Korean shipbuilders. Subsequently, Hudong-Zhonghua successively launched the classic “Chang Jian”, “Chang An”, “Chang Xing”, and “Chang Heng” series of LNG carriers.
On May 26, 2025, the second of six LNG carriers built by Jiangnan Shipbuilding (Group) Co., Ltd. (hereinafter referred to as Jiangnan Shipbuilding) for Abu Dhabi National Oil Company (ADNOC), the “AL RAHBA”, was named and delivered. This ship type is Jiangnan Shipbuilding’s first-generation 175,000 cubic meter Mark III Flex membrane-type LNG carrier, independently researched, developed, and designed in line with the latest international LNG carrier design concepts. It has a total length of 298.5 meters and a molded breadth of 46 meters, adopts the Mark III Flex membrane-type containment system with a boil-off rate below 0.085%, and features mainstream, reliable, energy-saving, and environmentally friendly characteristics. Its comprehensive economic performance indicators reach internationally advanced levels.
In September this year, Jiangnan Shipbuilding officially launched the world’s first ship type equipped with the “BrilliancE®
The 175,000 cubic meter LNG carrier design with the “II” containment system marks a breakthrough achievement for Jiangnan Shipbuilding in the field of LNG carrier R&D. Addressing the characteristic that sloshing impacts on structure intensify with larger tank capacity, Jiangnan Shipbuilding’s anti-sloshing enhanced 175,000 cubic meter LNG carrier has no loading restrictions, significantly enhancing inherent safety; it features high cargo hold utilization, substantially reducing construction and material costs; increased cargo capacity and lower boil-off rate; reduced equipment count, leading to better overall cost efficiency and superior economics; the primary barrier of the containment system is 5083-O aluminum alloy, enabling more automated and efficient construction while also accommodating the requirement for loading liquid ammonia; it adopts the independently developed “PnF-COMBi” insulation system, possessing the characteristic of “customizable boil-off rate”. According to reports, the anti-sloshing enhanced 175,000 cubic meter LNG carrier offers advantages such as the ability to carry liquid cargo with higher specific gravity (e.g., liquid ammonia), a reduced number of cargo tanks (e.g., a 3-tank configuration), and larger tank capacity. It is poised to become another significant development trend in the LNG carrier market in the future.
A New Member Driving Growth
As LNG’s position in the global marine fuel supply system continues to solidify, the LNG bunkering sector is transitioning from a niche market to an embedded part of the LNG infrastructure chain. Statistics from the international energy consultancy Lansdowne Moritz show that by the end of May 2025, global LNG bunkering volume reached 1.5 million tons, representing a significant increase of 64% compared to the same period last year. This remarkable growth reflects market recognition of LNG’s important role in the shipping industry’s green transition.
This growth resilience has further spurred market investment in a new wave of LNG bunkering vessels. Clarksons statistics show that from January to July this year, global shipyards received orders for 17 LNG bunkering vessels, totaling approximately 312,000 cubic meters. Both the number of orders and the total tank capacity have already surpassed the full-year levels of 2024. The ample orders generated since 2024 have also pushed the ratio of the orderbook to the total capacity of the LNG bunkering fleet close to 250%. By the end of July 2025, the global LNG bunkering fleet consisted of 32 vessels, totaling approximately 263,000 cubic meters. During the same period, the global orderbook for LNG bunkering vessels stood at 36 ships, with a total capacity of 638,000 cubic meters. This data also reveals a trend of increasing individual vessel capacity in the LNG bunkering vessel orderbook. Among the 36 LNG bunkering vessels in the global shipyard orderbook, 30 vessels have capacities between 18,000 and 20,000 cubic meters, accounting for nearly 89.8% of the total orderbook capacity by volume.
The 20,000 cubic meter LNG bunkering vessel is one of the main ship types in the global LNG transport and bunkering market. Nantong CIMC Pacific Marine Engineering Co., Ltd. (CIMC SOE) continues to lead this market segment by leveraging its technical advantages. In April this year, CIMC SOE signed a construction agreement with a European shipowner for one 20,000 cubic meter LNG bunker and carrier vessel, and secured an order for 1+1 additional vessels of the same type just over a month later. This vessel type has an overall length of 160 meters, a breadth of 25 meters, and a design speed of 15.5 knots. It features a dual-fuel main engine configured with an iCER system and offers the option to install a high-voltage shore power system, significantly reducing pollutant and greenhouse gas emissions throughout the vessel’s lifecycle. The vessel integrates storage, transport, and ship-to-ship bunkering functions, allowing flexible service for port fuel supply and offshore floating storage. The consecutive orders reflect the market’s high recognition of CIMC SOE’s capabilities in the design and construction of LNG bunker and carrier vessels. According to Clarksons statistics, as of the first half of this year, CIMC SOE held orders for 12 LNG bunkering vessels, ranking first globally.
On July 31, the option for the 1+1 18,600 cubic meter LNG bunkering vessel project ordered by TotalEnergies from Hudong-Zhonghua Shipbuilding became effective. This vessel, independently developed and designed by Hudong-Zhonghua, is the latest V3.0 version 18,600 cubic meter LNG bunkering vessel globally. It has an overall length of 135.9 meters, a breadth of 24.5 meters, and a depth of 16 meters, featuring superior ship-to-shore compatibility, lower energy consumption and emissions, and better energy saving and environmental protection. It is reported that the first firm vessel of this bunkering vessel project, which became effective in 2024, has currently entered dock construction. The newly effective vessel is scheduled for delivery in 2028 and will serve the Port of Rotterdam.
In March this year, CSSC Huangpu Wenchong Shipbuilding Company Limited (Huangpu Wenchong) secured an order for 2+2 20,000 cubic meter LNG vessels from Singaporean shipowner Singfar. This vessel type fully complies with the latest standards of the International Maritime Organization and the stringent requirements of the Maritime and Port Authority of Singapore (MPA) regarding system maneuverability and redundancy. It adopts an LNG dual-fuel diesel electric (DFDE) propulsion system, allowing full utilization of boil-off gas as fuel. The main generators meet Tier III emission requirements in fuel oil mode. The configured shore power system can further reduce carbon emissions and noise pollution, enhancing environmental performance during port stays. The vessel, through a full electric azimuth propulsion system combined with two bow thrusters, greatly enhances flexibility for port berthing and ship-to-ship bunkering operations, enabling /berthing, turning on the spot, and translational maneuvering.
In June 2025, Shanghai International Port (Group) Co., Ltd. (SIPG) signed a construction contract with China State Shipbuilding Corporation Limited (CSSC) for the first 20,000 cubic meter LNG bunkering vessel. This vessel is assigned to Jiangnan Shipbuilding for construction. Upon delivery, it will be dedicated to providing LNG fuel bunkering for international vessels within Shanghai Port and the Yangtze River estuary area, marking a significant step for a major Chinese port to independently establish LNG bunkering capability.
Newbuild LNG bunkering vessels globally are primarily undertaken by Chinese and Korean shipyards. In Korea, HD Hyundai Mipo Dockyard holds the most LNG bunkering vessel orders. Recently, HD Hyundai Mipo Dockyard signed a contract with a Spanish shipowner for the construction of two 18,000 cubic meter LNG bunkering vessels. Furthermore, in February this year, the shipyard also secured an order from Greek shipowner Evalend Shipping for four 18,000 cubic meter LNG bunkering vessels.
The flexible and efficient ship-to-ship bunkering method is gradually gaining favor. The large number of new vessels ordered by shipowners over the past two years will be delivered within the next 2-3 years. Additionally, alongside the booming LNG bunkering vessel market, the global shipyard orderbook continues to increase. Based on predictions of the shipping industry’s demand for LNG, Clarksons forecasts that the annual average addition of LNG bunkering vessels will be around 20 vessels (350,000 cubic meters) over the next five years.
