LNG Bunkering Market 2018: Highlights the Vendor Landscape with
Orbis Research has added Report on “LNG Bunkering Market 2018-2023” to its Database. The report LNG bunkering market enhances the decision making capabilities and helps to create an effective counter strategies to gain competitive advantage.
Dallas, United States – February 12, 2018 /MarketersMedia/ —
LNG bunkering is a practice of supplying the LNG fuel to a ship for its consumption. LNG is a cleaner fuel than conventional marine fuels, such as heavy fuel oil, marine diesel fuel, and marine gas fuels. Global concerns about air pollution, stricter regulations on chemical emissions as a result of fuel burning, and growth of the marine industry are expected to drive the demand for LNG vessel bunkering.
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UN Regulation on Sulfur Content of Marine Fuels – Accelerates the Growth
On 27th October 2016, United Nation’s shipping agency announced a reduction in the limit on sulfur content in marine fuels from current 3.5% to 0.5%. The new limitation would come into force during 2020. Most of the refineries will require lengthy and expensive modifications to produce marine fuels that meet the sulfur content requisite according to new regulation. Some of the current refineries are expected to fall short of making such modifications by 2020, in turn causing fuel shortage. LNG fuel, on the other hand, has low sulfur content and needs comparatively less proces....