The maritime industry is undergoing a seismic shift, and SeaKapital Holdings is steering the ship toward a greener future. With a massive order for six LNG bunkering vessels, this Hong Kong-based newcomer is making waves in the race to decarbonize global shipping.
A $516 Million Bet on the Future of Shipping
SeaKapital Holdings has placed a groundbreaking order for up to six liquefied natural gas (LNG) dual-fuel bunkering vessels at China’s Ningbo Xinle Shipbuilding. The deal, valued at a staggering $516 million, includes two firm orders for 20,000 cubic meter (cbm) LNG bunker ships, with options for four more. At an estimated $86 million per vessel, this move signals SeaKapital’s confidence in the growing demand for cleaner maritime fuels.
The first two vessels are slated for delivery in 2027, according to data from Greek shipbroker Intermodal. But why LNG? As the maritime industry accelerates its journey toward net-zero emissions, LNG has emerged as a leading alternative fuel, offering a cleaner-burning option compared to traditional marine fuels.
The Rise of LNG: A Global Trend
The demand for LNG-fueled vessels is skyrocketing. A January 2025 report by industry coalition SEA-LNG revealed a 33% annual increase in LNG-fueled ship orders, with these vessels accounting for a whopping 70% of all alternative-fueled tonnage ordered in 2024. SEA-LNG predicts that demand for LNG bunkering ships could double by 2030, driven by stricter environmental regulations and the global push for sustainability.
Asia, in particular, is at the forefront of this transformation. China’s very low sulfur fuel oil (VLSFO) sales surged by 62% in 2021, reaching 6.6 million tons. Meanwhile, Singapore’s biofuel blend sales jumped from 0.5 million tons in 2023 to 0.88 million tons in 2024, showcasing the region’s appetite for cleaner fuels.
Hong Kong’s Green Maritime Ambitions
Hong Kong is positioning itself as a hub for LNG bunkering services, and SeaKapital’s investment aligns perfectly with this vision. In December 2024, Hong Kong’s CLP Power partnered with the China National Offshore Oil Corporation (CNOOC) to develop LNG bunkering services in the port of Hong Kong. This initiative is part of the Hong Kong government’s “Action Plan on Green Maritime Fuel Bunkering,” unveiled in November 2024, which aims to establish the city as a high-quality green maritime fuel bunkering center.
By investing in LNG bunkering infrastructure, Hong Kong is not only reducing its carbon footprint but also creating new opportunities for businesses like SeaKapital to thrive in a rapidly evolving market.
A Greener Horizon for Global Shipping
SeaKapital’s bold move is more than just a business decision—it’s a statement. As the maritime industry charts a course toward sustainability, companies that embrace cleaner fuels and innovative technologies will lead the way. With its six-vessel order, SeaKapital is not just tapping into the LNG bunker market; it’s helping to shape the future of global shipping.
