LNG AS A BUNKER FUEL MARKET ANALYSIS

Market News

Recent Developments:

• In December 2021, global shipping companies CMA CGM Compagnie Maritime d'Affrètement - Compagnie Générale Maritime and Shell Plc. jointly performed the first bio-LNG bunkering trial in Rotterdam to achieve the target of net zero carbon by 2050. CMA CGM is a major container shipping group, while Shell is a global energy company. They have collaborated on various initiatives to decarbonize the marine sector. This includes agreements on the use of sustainable marine bio-fuel oil, LNG supply, and decarbonization efforts. The collaboration aims to accelerate the transition to more sustainable shipping practices, such as the use of low carbon Bio-LNG and other decarbonization efforts. The partnership involves the supply of LNG, biofuels, and the development of new fuels to support the shipping company's target of achieving net zero carbon by 2050. The agreements cover LNG bunkering and future joint efforts on decarbonization and new fuels.
• In January 2022, Total Energies and its partner CMA CGM launched ship to containership LNG bunkering operation in the Port of Marseille Fos in Southern France Total Energies is a French multinational integrated energy and petroleum company founded in 1924. It is one of the seven major oil companies. The company operates on a global scale, producing and marketing various forms of energy, including oil, biofuels, natural gas, green gases, and renewables. Total Energies has been actively expanding its renewable energy portfolio, with investments in solar, wind, and hydropower. The company has also been involved in strategic agreements, such as the one with CMA CGM on liquefied natural gas (LNG) fuel supply for CMA CGM's new build container ships. Total Energies is committed to meeting the growing demand for energy while reducing emissions and transitioning to a more sustainable energy mix.

Mergers and Acquisition

• In June 2022, The Royal Caribbean Group and Eagle LNG Partners LLC ("Eagle LNG") announced their partnership to provide liquefied natural gas (LNG) bunkering for the cruise line's LNG ships, including the first ship, Icon of the Seas, which will make its debut in 2023 and be the first ship in the Icon Class for the company's Royal Caribbean International brand. Eagle LNG will introduce a number of LNG ships that were specifically designed for maritime bunkering and gas transportation throughout the Caribbean.
•  The Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a global cruise holding company incorporated in Liberia and based in Miami, Florida. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of 2023, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.
• Eagle LNG Partners LLC is a privately held project development company headquartered in Houston, Texas. The company was founded in 2013 and is focused on providing affordable, efficient, and clean-burning liquefied natural gas (LNG) for the marine, power generation, export, rail, and mining markets. Eagle LNG's gas assets are located throughout the Caribbean basin, creating jobs and enhancing economic growth while contributing to the environmental health of the planet. The company's LNG fueling projects cover all scales and scopes, providing a powerful partnership that puts customers on the path toward a lower cost, smarter, safer, and cleaner energy future.
• In February 2021, Sumitomo and Petronas  signed an initial deal to jointly market and supply LNG bunker fuel in Japan and Malaysia. Sumitomo Corporation is a leading integrated trading company engaged in diverse businesses based on its global network. The company conducts business activities in a wide range of industries on a global scale, with its business units, initiatives, and regional organizations all over the world working closely together. The company's business activities include commodity transactions in all industries utilizing worldwide networks, providing related customers with various financing, serving as an organizer and a coordinator for various projects, and investing in companies to promote greater growth potential.
• Petronas, short for Petroliam Nasional Berhad, is a Malaysian state-owned oil and gas company. It was established in August 1974 and operates under the terms of the Petroleum Development Act passed in October 1974. The company is headquartered at the PETRONAS Twin Towers in Kuala Lumpur, Malaysia. PETRONAS is a dynamic global energy group with a presence in over 100 countries, producing and delivering energy and solutions that power society's progress responsibly. The company's portfolio includes oil and gas, renewable sources, and a range of advanced products and adaptive solutions. PETRONAS is a significant source of income for the Malaysian government, accounting for more than 15% of the government’s revenue from 2015 to 2020.