Transparency Market
Research has released a new market report titled Bunker Fuel Market -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,
2014 - 2020. According to the report, the global bunker fuel market
stood at 372.30 million tons in 2013 and is expected to reach 460.00
million tons in 2020 at a CAGR of 3.1% from 2014 to 2020.
Bunker fuel prices
account for over 70% of the cost of operating a vessel. Any
substantial fluctuations in fuel prices will have a knock-on effect
on profit margins of shipping agencies. In the bunkering industry,
there are two primary kinds of fuel currently being used: distillate
fuel and residual fuel. Among the two, residual fuel accounted for
the majority share of the global bunker consumption in 2013. However,
with the decreeing of major transit routes as emission control areas
(ECAs), the fuel consumption trend is anticipated to change gradually
in future. The vessel operators sailing in ECAs have to switch to low
sulfur and middle distillate fuels to comply with the sulfur limits
imposed in these areas. Securing bunker fuel of an acceptable quality
depends on several factors such as the bunkering port, choice of
suppliers, and blending facilities available in the port. The bunker
fuels traded by supplying companies should meet the fuel
specifications set out in ISO 8217. Several bunker testing agencies
have been established to monitor and ensure that shipping agencies
meet the fuel specifications.
Currently, Asia
Pacific is a major market for the bunker fuel industry, with
Singapore and China being the primary contributors to this market.
Increasing traffic of containerized vessels and oil tankers in the
Asia Pacific region are some of the major factors driving investments
in the marine fuel industry. Europe closely follows the Asia Pacific
segment in terms of consumption of bunker fuel. Russia is the major
supplier of fuel oil lies in this region and as a result, fuel
suppliers are able to supply fuel at comparatively lower prices in
Europe. The bunkering port facilities in Europe are also highly
developed, which culminates into low turnaround times for vessels
fueling in the region. Several ports such as Rotterdam, Antwerp, and
Piraeus have emerged as major bunkering destinations in this region.
The North Sea and Baltic Sea areas of Europe have been declared as
ECAs. As a result, shipping agencies operating in these areas have
taken initiatives to use clean marine fuel grades in the ECAs.
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The marine fuel
grades have been broadly segmented into four major categories: IFO
380, IFO 180, IFO Others, and MDO/MGO. The IFO Others segment
includes fuel grades IFO 500, IFO 700, LS 380, and LS 180. IFO 380 is
the most traded marine fuel oil grade globally, is easily available
at all bunkering destinations in the world, and is more economical
when compared to other fuel grades. The requirement for bunker fuel
is relatively high in bulk and general cargo vessels. Bulk carriers
are generally used for transporting coal, steel, and iron, among
others. However, the major demand centers for these commodities such
as China have been recently exhibiting a decreasing trend in demand.
On the other hand, the requirement for bunker fuel in the container
ships segment is anticipated to grow at a substantial rate in the
future. Rapidly increasing demand for manufactured and finished goods
especially in developing countries of Asia Pacific is the major
factor that has led to increasing trade of containerized cargo.
This research has
been designed to estimate, analyze, and forecast market volume and
revenue of the bunker fuel market. It provides an in-depth analysis
of the market size of marine fuel in terms of volume (Million Tons)
and revenue (USD Billion). Key players in the market include Chemoil
Energy Limited, Aegean Marine Petroleum Network, Inc., World Fuel
Services Corporation, Gazpromneft Marine Bunker LLC, BP Marine Ltd.,
and Bunker Holding A/S. The report provides an overview of these
companies, their financial revenues, business strategies, and recent
developments. The research analyzes and estimates the performance of
the market for bunker fuel globally. It provides a detailed trend
analysis of the market in terms of geography and offers a
comprehensive analysis of companies that supply bunker fuel to
shipping companies. For a better understanding of the bunker
industry, the market has been segmented as below:
Browse the full
Bunker Fuel Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast, 2014 – 2020 report at
http://www.transparencymarketresearch.com/ bunker-fuel-market.html
Bunker Fuel Market:
Fuel Grade Analysis
IFO 380
IFO 180
IFO Others
MGO/MDO
Bunker Fuel Market:
End User Analysis
Container Vessels
Tankers Vessels
Bulk & General
Cargo Vessels
Other Vessels
Bunker Fuel Market:
Seller Type Analysis
Major Oil Companies
Leading Independent
distributors
Small Independent
distributors
Bunker Fuel Market:
Regional Analysis
North America
Europe
Asia Pacific
Middle East
Rest of the World
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