Will shipping be a big market for LNG? You bet. Are there many good alternatives to LNG for the shipping industry of today and tomorrow? Not really. So this is a match made in heaven. There is an LG overhang and shipping is ready to go into an LNG bunkering overdrive. That being said, it takes many, many years until major fleets have switched a significant part of their fleets to LNG. Once a vessel is put into service, they ply the waters for 30 years and conversion does not pay. But the heavy vehicles market does this far faster.
Chinese state run company Cosco Shipping Energy Transportation's recent order of an LNG fueled VLCC is a significant development in the wider adoption of natural gas as a marine fuel, even though it m