According to TradeWinds, energy giant Shell has returned to the newbuilding market, quietly launching a tender for large LNG bunkering vessel newbuilds. This move is a significant step in its strategy to expand LNG bunkering capacity, with related inquiry details kept confidential.
Tender Strictly Confidential
Informed industry sources said Shell has sent inquiries directly to shipyards, planning to order at least two LNG bunkering vessels with tank capacities between 18,500 and 20,000 cubic meters.
Some sources pointed out that, regarding the shipowners participating in the bid, “all the usual suspects” are vying for this order opportunity.
According to brokers, Shell seems to be going to great lengths to keep details of this new business confidential and avoid information disclosure.
When asked about the latest tender rumors, Shell declined to comment. This time, the energy giant appears to have adopted a more cautious strategy, demanding strict confidentiality for the business and only inviting shipowners with experience in the LNG bunkering sector to participate.
An industry professional stated that the non-disclosure agreements participants must sign are “unprecedented” in their strictness.
Consolidating a Leading Position
Given its leading position in the LNG bunkering sector, Shell is known for selecting high-specification LNG bunkering vessels. The energy giant had already approached industry players last year regarding a series of LNG bunkering vessel newbuilding projects.
In October 2024, reports indicated that Shell attracted industry attention by initiating inquiries for up to five LNG bunkering vessels. This project included two firm orders for 18,000 to 20,000 cubic meter vessels and several optional vessel orders.
At that time, news stated that Shell had communicated its newbuilding requirements with over 30 shipowners, demanding vessel delivery in the first half of 2027 and offering five to seven-year time charters.
After fierce competition among shortlisted parties, Spanish shipowner Grupo Ibaizabal ultimately won, ordering two 18,000 cubic meter LNG bunkering vessels at Hyundai Mipo Dockyard in South Korea in May this year, scheduled for delivery in the second half of 2027. According to Clarksons Shipping Intelligence Network database, the price for each of these newbuilds is $97.5 million.
Currently, Shell and its energy sector competitor TotalEnergies both hold dominant positions in the LNG bunkering field.
In August this year, Shell was reported to have won 40% of the handling capacity of the soon-to-be-operational small-scale terminal at the Rotterdam Gate LNG terminal, further consolidating its position in the European market, with the remaining share going to TotalEnergies.
Strong Market Demand
In its “LNG Outlook 2025,” Shell predicts that the number of LNG-powered vessels will exceed 2,000 by 2029. Against this backdrop, marine LNG demand will increase to over 16 million tonnes per year by 2030.
Over the past 12 months, a large number of new players have entered the LNG bunkering vessel sector, ordering a significant number of new ships, with some orders being speculative signings.
Brokers stated that prices for all LNG bunkering vessel newbuilds currently remain firm, partly due to strong market demand and another important reason being the limited number of shipyards with experience in building these relatively complex vessels.
Currently, there are at least 35 LNG bunkering vessels on order at Chinese and Korean shipyards, 17 of which were contracted this year, exceeding the number of LNG carrier newbuild orders placed so far in 2025.
Statistics show that only one LNG bunkering vessel remains to be delivered this year, five will be delivered in 2026, and deliveries will increase significantly starting from 2027.
LNG bunkering vessels are currently showing a trend towards larger sizes. In 2024, the number of operational LNG bunkering vessels increased from 52 to 64, with another 16 on order. Approximately 42% of these vessels have a tank capacity greater than 10,000 cubic meters.
From January to July 2025, 15 LNG bunkering vessel orders were signed globally, mainly concentrated in the two mainstream sizes of 20,000 cubic meters and 18,000-18,600 cubic meters.
For example, in March of this year, Huangpu Wenchong Shipbuilding Company, in conjunction with China Shipbuilding Trading Co., Ltd., successfully signed a contract with Singapore’s Singfar Group in Guangzhou for 2+2 20,000 cubic meter LNG bunkering vessels;
In April, Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. successfully signed an order with Avenir LNG for two 20,000 cubic meter LNG transportation and bunkering vessels;
In the first half of the year, HD Hyundai Mipo received orders for four LNG bunkering vessels from Greek shipowner Evalend Shipping and two from Spanish shipowner Grupo Ibaizabal, all with a capacity of 18,000 cubic meters.
