Global LNG Carrier Fleet Expected to Reach 1,000 Vessels by June 2027 Amidst Strong Demand
The global LNG carrier fleet is set to reach 1,000 vessels by June 2027, fueled by a robust delivery schedule and a projected 9.6% growth in 2025. With five major shipyards accounting for over two-thirds of new builds, the market is witnessing a shift towards two-stroke dual-fuel designs, enhancing efficiency and reducing risks. As LNG trade continues to expand, the industry anticipates a need for 150 to 250 additional carriers by 2030, while preparing for an eventual plateau in newbuilding activity post-2027.
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The global LNG carrier fleet is projected to reach its 1,000th vessel by June 2027, driven by a strong delivery schedule. Drewry forecasts a 9.6% fleet growth in 2025, with 89 new vessels expected, followed by 94 in 2026 and 92 in 2027.
A concentrated builder landscape exists, with five shipyards responsible for over two-thirds of all LNG carriers. Dominance of two-stroke dual-fuel designs among new builds is noted, reducing integration risks and competition.
LNG trade has grown for 11 consecutive years, reaching 555 bcm, with 270 bcm of liquefaction capacity approved for commissioning by 2030. Drewry estimates that 150 to 250 LNG carriers will be needed by 2030.
While a newbuilding wave is anticipated, suppliers must prepare for a service-heavy plateau post-2027, with increased scrapping of older vessels and tightening fleet age profiles expected. The market remains supportive of LNG investments, crucial for energy security and infrastructure development.
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