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SHIPPING & TERMINALS 2nd Quarter 2025www.lngworldshipping.com European focus EU reform to drive regional terminal growth SIRE 2.0 Are digital inspections unduly pressuring crew? Fleet data Comprehensive view of the latest fleet updates Small Scale LNG Indonesia power plant switch a boost for the sector Has IMO changed the outlook for LNG in shipping?The CO2 Conference Series takes place in three key maritime regions: Europe, Asia, and the Americas. Each event provides a unique opportunity to hear from leading experts on key developments in the sector. Attendees will forge, maintain, and renew business relationships in a stimulating environment that offers an ideal opportunity to showcase brands, products, and services to an audience of senior operational and commercial executives. Conference Series Scan to view the upcoming events in the CO2 Series Brought to you by CO2 SHIPPING, TERMINALS & CCS CONFERENCE ASIA 1 February 2026, Singapore CO2 SHIPPING, TERMINALS & CCS CONFERENCE EUROPE 8 September 2025, Milan 17 June 2025, London CO2 SHIPPING & TERMINALS CONFERENCE The conference delivers a focused programme addressing the industry’s most pressing challenges. Built on market research and stakeholder input, the programme examines regulatory implementation, technological innovation, and commercial strategies for a successful CO2 shipping market. The programme balances regulatory requirements with operational realities, ensuring delegates leave with actionable strategies for compliant, sustainable operations.CONTENTS 2nd Quarter 2025 | volume 24 issue 2 SHIPPING & TERMINALS www.lngworldshipping.com LNG Shipping & Terminals | 2nd Quarter 2025 11 12 8 Regulars 3 COMMENT 4 FLEET DATA 38 SMALL-SCALE LNG 40 WOMEN IN MARITIME Area report: Europe and the Mediterranean 7 Significant infrastructure changes across the European LNG landscape 8 The factors reshaping Europe’s LNG terminals 10 Spain’s shift towards a green infrastructure 11 The implications of European Union reform plans on regional terminals 12 Orlen’s growing influence in European energy logistics 14 How FSRU logistics are reshaping the LNG map Floating LNG 16 The diverse and innovative mooring systems employed by floating LNG projects Crewing 20 Why the industry must react decisively to a shortage of trained seafarers Regulations 24 The implications of the latest MEPC 83 findings for LNG as a marine fuel Systems simulation 27 How simulation-based technology is supporting LNG’s quest for complianceCONTENTS 2nd Quarter 2025 | volume 24 issue 2 Tankers & Markets Editor: Craig Jallal t: +44 20 8370 1717 e: craig.jallal@rivieramm.com Senior Production Editor: Kevin Turner t: +44 20 8370 1737 e: kevin.turner@rivieramm.com Brand Manager – Sales: Ian Pow t: +44 20 8370 7011 e: ian.pow@rivieramm.com Head of Sales – Asia: Kym Tan t: +65 6809 1278 e: kym.tan@rivieramm.com Senior Creative Manager: Mark Lukmanji t: +44 20 8370 7019 e: mark.lukmanji@rivieramm.com Chairman: John Labdon Managing Director: Steve Labdon Executive Editor & Head of Business Relations: Edwin Lampert Managing Editor: John Snyder Published by: Riviera Maritime Media Ltd Mitre House, 66 Abbey Road Enfield EN1 2QN, UK www.rivieramm.com ISSN 2634-7431 (Print) ISSN 2634-744X (Online) ©2025 Riviera Maritime Media Ltd Disclaimer: Although every effort has been made to ensure that the information in this publication is correct, the Author and Publisher accept no liability to any party for any inaccuracies that may occur. Any third party material included with the publication is supplied in good faith and the Publisher accepts no liability in respect of content. All rights reserved. No part of this publication may be reproduced, reprinted or stored in any electronic medium or transmitted in any form or by any means without prior written permission of the copyright owner. This product is from sustainable managed forests, recycled and controlled sources – PEFC. SHIPPING & TERMINALS Subscribe Today A year’s subscription to LNG Shipping & Terminals for £220 includes: • 4 print issues of the magazine, sent quarterly over a 12 month period. • Digital edition library access. To purchase more than one copy or for corporate subscriptions please contact Sally Church e: sally.church@rivieramm.com t: +44 20 8370 7018 Subscribe online LNG Shipping & Terminals | 2nd Quarter 2025 www.lngworldshipping.com SIRE 2.0 30 Scorpio Group’s Ozgun Altintas explains how SIRE 2.0 is bolstering safety 32 How crews and managers are adapting to shifting inspection dynamics Terminal operations 34 Optimising operations and maintenance strategies Mooring 36 The importance of fibre quality in synthetic ropes Next issue Main features include: Area report: Middle East; Training and simulation; Ship repair and conversion; Ship/shore interface operations 27 30www.lngworldshipping.com LNG Shipping & Terminals | 2nd Quarter 2025 COMMENT | 3 Craig Jallal Tankers & Markets Editor LNG’s uncertain future demands digital readiness “ The lesson from MEPC 83 is not that LNG is finished, but that its future must be recalibrated” T he outcome of MEPC 83 has placed LNG shipping in an interesting position. Once embraced as a cleaner transitional fuel, LNG now faces new greenhouse gas (GHG) intensity metrics that could categorise it as non-compliant in the early 2030s. The shift is not rhetorical. Bureau Veritas has warned that under the Net-Zero Framework’s Direct Compliance targets, LNG as a marine fuel could fall into Tier 2 non-compliance within six years, incurring a penalty of US$380 per tonne of CO2- equivalent emissions. The metrics under scrutiny go beyond carbon dioxide. Methane slip, lifecycle emissions and engine load variability are now central to determining compliance. New onboard measurement rules will allow ships to substitute default values with actual slip data. While this could expose inefficiencies, it also opens a new pathway for targeted performance optimisation. In this context, the most rational response for shipowners is to use the tools already available — digital simulation, advanced monitoring, and predictive analytics — to chart a credible path through the regulatory thicket. Much of the attention has focused on methane emissions from combustion. Yet Ahti.io’s ceo, Risto-Juhani Kariranta, has argued that a large share of methane leakage occurs upstream, before the LNG ever reaches the vessel. He maintains that the increased scrutiny does not represent the end of LNG- powered shipping but will force earlier transitions to bio-LNG and e-LNG variants. The regulatory message is clear: the sector must improve its performance both onboard and across the supply chain or face escalating costs. This is where integrated, physics-based simulation is changing the equation. Companies such as Wärtsilä and MAN Energy Solutions have developed high-fidelity digital twins that simulate vessel-wide power and propulsion systems. Hyundai Heavy Industries, working with DNV, has already used such a system to conduct virtual commissioning for a 174,000-m 3 LNG carrier. DNV accepted the simulation as the basis for class approval, calling it a method that enables repeatability and transparency. The advantage here is not merely in avoiding physical tests; it is the ability to test many more operational scenarios and control strategies than traditional commissioning allows. Digital twins also assist in forecasting boil-off gas behaviour and system-wide efficiency. Nautilus Labs has demonstrated digital cargo models that track tank pressure and predict boil-off with greater than 95% accuracy. These insights allow operators to adjust propulsion and reliquefaction systems to reduce waste and improve voyage planning. Classification societies have not only accepted this new approach but are helping to formalise it. DNV’s Simulation Trust Center and its RP-0513, provide a framework for verifying simulation models, while BV is exploring 3D model-based approvals. As LNG’s compliance profile grows more complex, such institutional backing for digital verification becomes essential. The lesson from MEPC 83 is not that LNG is finished, but that its future must be recalibrated with real-time data and advanced modelling. Simulation-based design, onboard measurement, and lifecycle oversight now define the tools of compliance. Shipowners prepared to deploy them will continue to trade. Those who delay may discover that assumptions built on past compliance no longer hold in the decade ahead. LNG(source for all data: Clarksons Research Services) LNG Carrier Fleet at a Glance Q2 2018 - Q1 2025 800 700 600 500 400 300 200 100 0 Number Year/quarter Q1 2021 Q1 2022Q1 2023Q1 2024Q2 2018Q2 2021 Q2 2022Q2 2023Q2 2024 Q3 2018Q3 2021 Q3 2022 Q3 2023 Q3 2024 Q4 2018Q4 2021 Q4 2022 Q4 2023 Q4 2024 Q1 2025 Q1 2019 Q2 2019Q3 2019Q4 2019Q1 2020 Q2 2020Q3 2020Q4 2020 Year/quarter LNG Carrier Deliveries by Quarter: Q2 2018-Q1 2025 25 20 15 10 5 0 Number Q1 2021 Q1 2022Q1 2023Q1 2024Q2 2018Q2 2021 Q2 2022Q2 2023Q2 2024 Q3 2018Q3 2021 Q3 2022Q3 2023 Q3 2024 Q4 2018Q4 2021 Q4 2022Q4 2023Q4 2024 Q1 2025 Q1 2019 Q2 2019Q3 2019Q4 2019Q1 2020 Q2 2020Q3 2020Q4 2020 806 global fleet at end of March 2025 349 global orderbook at end of March 2025 43% global orderbook as percentage of fleet at end of March 2025 15 LNG carriers delivered in Q1 2025 70 LNG carriers delivered in the last 12 months 60 LNG Carrier Orders by Quarter: Q2 2018 - Q1 2025 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 0 1020304050 Number Year/quarter LNG Orderbook: LNG Containment Model (where known) GTT Mark III 8 GTT NO 96 Super+ 24 GTT Mark III Flex 60 GTT NO 96 11 GTT NO 96 GW 18 GTT NO 96 L03 2 GTT NO 96 L03+ 2www.lngworldshipping.com QatarEnergy tonnage leads LNG delivery activity Five large LNG carriers and new bunkering capacity mark an active first quarter in LNG ship deliveries L NG newbuilding deliveries in the first quarter of 2025 were headlined by the arrival of five large LNG carriers linked to QatarEnergy’s North Field Expansion programme. Delivered to Korea Green LNG, a joint venture comprising H-Line Shipping, Pan Ocean and SK Shipping, the vessels form part of QatarEnergy’s long-term charter programme that continues to drive activity in Korean shipyards. The five 174,000-m³ carriers: Al Kheesah, Umm Swayyah, Lebrethah, Al Kharrarah and Al Qassar, were delivered between January and March 2025, with construction divided between Hanwha Ocean and Samsung Heavy Industries. The vessels are being commercially managed by H-Line Shipping, which also acts as technical manager for at least part of the fleet. Lebrethah, built by Hanwha Ocean, was delivered in February and marked the shipbuilder’s 200th LNG carrier. Hanwha Ocean described the vessel as part of its “first-of-class project with QatarEnergy” and stated that the milestone “demonstrates the strength of Korea’s LNG shipbuilding ecosystem.” The three-vessel joint venture behind Korea Green LNG is widely seen as a model for enabling domestic carriers to secure long-term LNG business. By pooling commercial and operational expertise, the venture is positioned to meet chartering requirements from major producers, including QatarEnergy, through competitively priced and technically reliable tonnage. QatarEnergy formally named Umm Swayyah and Lebrethah in late 2024 and early 2025, respectively, as part of a series of naming ceremonies. These were among the first ships delivered under the Qatari major’s 60+ vessel newbuilding programme, with further deliveries expected through to 2027 as the North Field Expansion project advances towards its stated capacity targets. Alongside large-scale carriers, the first quarter also saw developments in the LNG bunkering segment. In January, Seaspan Energy took delivery of Seaspan Baker, a 7,600-m³ LNG bunkering vessel built by CIMC Sinopacific Offshore & Engineering. The vessel is to be located in Long Beach, California, and is expected to supply LNG to vessels operating on the North American western seaboard. The vessel, Seaspan’s third LNG bunkering ship, was designed in co-operation with VARD Marine and features hull form optimisation, emissions reduction technologies and an arrangement suitable for ship-to- ship LNG transfer. Seaspan stated that Seaspan Baker will “support the growing demand for LNG-fuelled vessels calling at Long Beach and other regional ports,” adding that its bunkering operations align with its broader marine decarbonisation agenda. Four more LNG bunkering vessels are expected to enter service in the third quarter of 2025. Nordic Hamburg Shipping is due to take delivery of three 4,500-m³ DFDE bunkering vessels currently under construction at Flensburger Schiffbau-Gesellschaft. The vessels will be used to supply LNG at various ports across Europe. A fourth vessel, being built at Hyundai Mipo Dockyard in South Korea, will have a capacity of 12,500-m³ and is being constructed for Spanish gas infrastructure company Scale Gas. Together, these deliveries confirm that both large-scale LNG transport and small-scale bunkering segments are very active, supported by long-term charters and infrastructure-led deployment strategies. As global trade routes adjust to emissions regulations, these vessels form part of a practical response to near-term decarbonisation targets. LNG Seaspan Baker was delivered in Q1 2025 and has joined Seaspan Lions (pictured) as part of the Seaspan LNG bunker delivery fleet on the west seaboard of North America (source: Seaspan) FLEET DATA | 5LNG Carrier Deliveries Q1 2025 and Q2 2025 The latest LNG carrier deliveries into the fleet and expected deliveries The latest LNG carrier deliveries into the fleet and expected deliveries (source: VesselsValue) Q1 2025 Q2 2025 Build month Name Size (CBM) Vessel typeEngine typeBeneficial OwnerCommercial Manager JanNew Oasis173,966LARGE LNGMEGAPan OceanPan Ocean JanSeaspan Baker7,600 SMALL SCALE LNG (Bunkering) DFDESeaspanLNGSeaspanLNG JanAl Kheesah174,000LARGE LNGMEGAKorea Green LNGH Line Shipping JanPuteri Mayang173,975LARGE LNGXDF Bank of Communications Financial Leasing Hyundai LNG Shipping Co JanUmm Swayyah174,000LARGE LNGMEGAKorea Green LNGPan Ocean JanGail Sagar174,000LARGE LNGMEGAHuaXia Financial LeasingCool Company Ltd JanOrion Sirius174,000LARGE LNGMEGAGlobal Meridian HoldingsOrion Global Transport JanLimail175,000LARGE LNGXDFMOLMOL FebMOL Azure174,000LARGE LNGMEGAMOLMOL FebOrion Saint174,000LARGE LNGMEGAGlobal Meridian HoldingsOrion Global Transport FebCelsius Galway180,000LARGE LNGMEGASPDB Financial LeasingCelsius Shipping FebLebrethah174,000LARGE LNGMEGAKorea Green LNGKorea Green LNG MarPuteri Sabah174,000LARGE LNGMEGAChina Construction Bank FLSK Shipping MarAl Kharrarah174,000LARGE LNGMEGAKorea Green LNGH Line Shipping MarAl Qassar174,000LARGE LNGMEGAKorea Green LNGPan Ocean MarNorth Valley174,000LARGE LNGMEGAMOLMOL MarPuteri Sarawak174,000LARGE LNGMEGAChina Construction Bank FLSK Shipping MarJosef Pilsudski174,000LARGE LNGMEGAKnutsen OAS ShippingKnutsen OAS Shipping MarIgnacy Jan Paderewski174,000LARGE LNGMEGAKnutsen OAS ShippingKnutsen OAS Shipping MarClean Mistral200,000LARGE LNGMEGA Bank of Communications Financial Leasing Dynagas Holding Ltd AprHL Alyssa Warner174,000LARGE LNGMEGAH Line ShippingH Line Shipping AprHudong Zhonghua174,000LARGE LNGDFDEMOLMOL AprSamsung174,000LARGE LNGDFDEKorea Green LNGKorea Green LNG AprSamsung174,000LARGE LNGDFDEKorea Green LNGKorea Green LNG Apr 8175 (Hull) Hyundai Samho 174,000LARGE LNGDFDEH Line ShippingH Line Shipping AprSergei Witte172,600LARGE LNGDFDESmart LNGSmart LNG AprAleksey Kosygin172,600LARGE LNGDFDESmart LNGSmart LNG AprPyotr Kapitsa174,000LARGE LNGDFDEBuilder / YardBuilder / Yard AprLev Landau174,000LARGE LNGDFDEBuilder / YardBuilder / Yard AprZhores Alferov174,000LARGE LNGDFDEBuilder / YardBuilder / Yard AprClean Levant200,000LARGE LNGXDFDynagas Holding LtdDynagas Holding Ltd AprUmm Al Houl174,000LARGE LNGDFDEGlobal Meridian HoldingsGlobal Meridian Holdings AprAl Slaimi174,000LARGE LNGMEGAKorea Green LNGKorea Green LNG AprFlensburger4,500 SMALL SCALE LNG (Bunkering) DFDENordic Hamburg ShippingNordic Hamburg Shipping AprHyundai Mipo12,500 SMALL SCALE LNG (Bunkering) DFDEScale GasScale Gas AprFlensburger4,500 SMALL SCALE LNG (Bunkering) DFDENordic Hamburg ShippingNordic Hamburg Shipping AprFlensburger4,500 SMALL SCALE LNG (Bunkering) DFDENordic Hamburg ShippingNordic Hamburg Shipping AprAl Sakhamah174,200LARGE LNGMEGAKorea Green LNGSK Shipping AprHyundai Heavy Ind174,000LARGE LNG Unknown Dual Fuel UndisclosedUndisclosed AprSamsung174,000LARGE LNGDFDENYK LineNYK Line AprHudong Zhonghua174,000LARGE LNGDFDEMOLMOL AprHudong Zhonghua174,000LARGE LNGDFDEMOLMOL AprSamsung174,000LARGE LNGDFDENYK LineNYK Line AprHyundai Samho174,000LARGE LNGXDFNYK LineNYK Line AprPyotr Stolypin172,600LARGE LNGDFDESmart LNGSmart LNG AprSamsung175,000LARGE LNGDFDEQatarEnergyQatarEnergy AprVenture Acadia173,400LARGE LNGMEGIBW LNGBW LNG AprSamsung174,000LARGE LNG Unknown Dual Fuel UndisclosedUndisclosed AprHudong Zhonghua174,000LARGE LNGDFDEMOLMOL MaySamsung175,000LARGE LNGDFDEQatarEnergyQatarEnergy MayAl Galayel174,000LARGE LNGMEGAKorea Green LNGKorea Green LNG MayAl Rahba175,000LARGE LNGDFDEADNOC Logistics and ServicesADNOC Logistics and Services MayHL Edward Austin174,000LARGE LNGDFDEH Line ShippingH Line Shipping MayVenture Creole173,400LARGE LNGMEGIBW LNGBW LNG May2599 (Hull) Samsung180,000LARGE LNGMEGACelsius ShippingCelsius Shipping June 3380 (Hull) Hyundai Heavy Ind 174,000LARGE LNGXDFKnutsen OAS ShippingKnutsen OAS Shipping JuneNikolay Basov174,000LARGE LNGDFDEMOLMOL JuneBu Nakhlah174,000LARGE LNGMEGAKorea Green LNGKorea Green LNG JuneIlya Mechnikov174,000LARGE LNGDFDEMOLMOL June 1883 (Hull) Hudong Zhonghua 174,000LARGE LNGXDFMOLMOL June2609 (Hull) Samsung174,000LARGE LNGDFDEH Line ShippingH Line Shipping June 3382 (Hull) Hyundai Heavy Ind 174,000LARGE LNGXDFKnutsen OAS ShippingKnutsen OAS Shipping June 3381 (Hull) Hyundai Heavy Ind 174,000LARGE LNGXDFKnutsen OAS ShippingKnutsen OAS Shipping LNG Shipping & Terminals | 2nd Quarter 2025 www.lngworldshipping.comwww.lngworldshipping.com LNG Shipping & Terminals | 2nd Quarter 2025 Southern and Western Europe enjoys a strong LNG presence around its rim (sources: Global Energy Monitor Wiki project and company websites) *excludes UK and Northern Europe Zeebrugge LNG Terminal Świnoujście LNG Fos Cavaou LNG Terminal Gate LNG Terminal Adriatic LNG Terminal Ravenna LNG Terminal Panigaglia LNG Terminal HIGAS LNG Terminal Fos Tonkin LNG TerminalBarcelona LNG Terminal Cartagena LNG Terminal Sagunto LNG Terminal Revithoussa LNG Terminal Montoir LNG Terminal Bilbao LNG Terminal El Musel LNG Terminal Mugardos LNG Terminal Sines LNG Terminal Huelva LNG Terminal Gibraltar LNG Terminal Dunkirk LNG Terminal Europe and Mediterranean AREA REPORT | 7 Europe recalibrates LNG infrastructure and supply Shifting priorities, floating terminals and new trade alignments reshape Europe’s LNG network E urope’s LNG landscape is in a period of adjustment. New infrastructure continues to come online, but in contrast to the dramatic build-out of recent years, 2025 is marked by regulatory refinements, geopolitical recalibration, and the incremental reshaping of long-established terminals. An interesting development is the European Commission’s Action Plan for Affordable Energy, which affirms the EU’s dependence on imported gas and proposes structural tools to manage future supply. While electricity market reform dominates the headlines, the plan quietly makes space for expanded LNG infrastructure, emphasising regional interconnectivity, the role of trusted suppliers, and the possible return of joint purchasing. This context frames recent developments across the continent. Poland has completed a major expansion of its Świnoujście terminal and is advancing a second project in the Gulf of Gdańsk. Spain has opened El Musel and introduced bio-LNG services at Huelva and Barcelona. France, Belgium, and Italy are trialling new environmental or logistical features at existing facilities, including cold energy recovery and bio- LNG bunkering. Greece’s Revithoussa terminal is booked through to 2030, a reminder of ongoing demand stability. Floating storage and regasification units (FSRUs) continue to show both their promise and limitations. Germany and France present examples of commercial and operational challenges, while Italy and Greece are expanding the model with more stable policy and infrastructure backing. The mobility of FSRUs brings options, but also risk. Their deployment increasingly reflects political and commercial calculation, rather than emergency need. Across the continent, LNG remains a strategic energy component, but its function is evolving. The focus is shifting from rapid expansion to long-term integration, environmental compliance, and logistical optimisation. If the past two years were defined by urgency, the current phase may be better characterised by recalibration. LNGNext >