Global Bunker Fuel Market was valued US $ 106.90 bn in 2019 and is expected to reach US$ XX bn by 2026, at a CAGR of XX % during a forecast period. Bunker fuel is the cheapest available and most used fuel in the shipping industry and supports the demand for bunker fuel market. IEA. Bunker fuel is the term used to describe the oil used in the bunkers of heavy, deep-sea cargo ships to power its engines. Though LNG represents a cheaper fuel source than oil-based products, construction of these vessels is very expensive, as is retrofitting older vessels with LNG engines. Press release - databridgemarketresearch - Bunker Fuel Market 2020 Will Grow at Significant CAGR of 9.50% by 2027 With Global Players - Total, … IBIA’s members forecast a 7%-17% drop in bunker fuel demand globally in 2020, she said. Demand for bunker fuel alone is estimated to have fallen between 7-17% in 2020. The new global limits on sulfur content for marine fuels are estimated to significantly impact the bunker fuel market. Demand for bunker fuel alone is estimated to have fallen between 7-17% in 2020. The marine sector, which consumed 3.8 million barrels per day of fuel oil in 2017, is responsible for half of global fuel oil demand. 英語タイトル:Global Bunker Fuel Market Size study, By Type (High Sulfur Fuel Oil, Low Sulfur Fuel Oil, Marine Gasoil, and Others), Commercial Distributor (Oil Majors, Large Independent, and Small Independent), and Application (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tankers, and Others), and Regional Forecasts 2020-2027 "Global marine bunkers product demand in 2018 with a forecast for 2019 to 2024, by fuel type (in million barrels per day)." In January 2020, the global ship bunker fuel specification changes from a maximum of 3.5 weight percentage (wt%) sulfur to maximum 0.5 wt%. 【英語タイトル】Global Bunker Fuel Market Size study, By Type (High Sulfur Fuel Oil, Low Sulfur Fuel Oil, Marine Gasoil, and Others), Commercial Distributor (Oil Majors, Large Independent, and Small Independent), and Application (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tankers, and Others), and Regional Forecasts 2020-2027 According to a new report published by Allied Market Research titled, “Bunker Fuel Market by Type, Commercial Distributor, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the global bunker fuel market size was valued at $120.1 billion in 2019, and is projected to reach $130.1 billion by 2027, growing at a CAGR of 3.1% from 2020 to 2027. From a shipping perspective, IHS Markit estimates that about 55,000 ships of a total fleet of about 110,000 vessels burn heavy fuel oil bunkers, and that roughly 30,000 ships account for about 80% of global fuel oil bunker use. Discover how you can access our oil prices, news & analysis Learn More About S&P Global Platts Bunker Long-term growth projected at ~2.5%/yr. According to this study, over the next five years the Bunker Fuel market will register a 7.8%% CAGR in terms of revenue, the global market size will reach $ 150900 million by 2025, from $ 111820 million in 2019. Platts Bunker Fuel service helps to develop, connect & explain the market price of crude oil and oil products. 7.1 Global LNG as a Bunker Fuel Sales (K Units) and Market Share by Regions 2014-2020 7.2 Global LNG as a Bunker Fuel Revenue (M USD) and Market Share by Regions 2014-2020 7.3 Global LNG as a Bunker Fuel … Rising tourism industry fueled by demographic changes increased disposable income, and IMO sulphur regulations therefore have the potential to be highly disruptive to the pricing and availability of compliant fuels. “Global bunker demand is expected to decrease significantly in 2020, even if it had held up quite well (in April and May),” Einemo said. Bunker-One-America estimates a net fall in bunker demand of 9.3% in Q2 2020 versus Q2 2019, but there have been sharp regional differences in the severity of the decline. (Repeats JULY 3 story, no change to text) * VLSFO market weighed down by rising supplies, weak demand * Global fuel oil supply to increase 620,000 bpd in Q3 -analyst * Bunker demand … On 27 October 2016, the IMO came to a broad agreement to implement the global reduction in the sulfur content of marine bunker fuel from 1 January 2020. 英語タイトル:Global Bunker Fuel Market Size study, By Type (High Sulfur Fuel Oil, Low Sulfur Fuel Oil, Marine Gasoil, and Others), Commercial Distributor (Oil Majors, Large Independent, and Small Independent), and Application (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tankers, and Others), and Regional Forecasts 2020-2027 November 15, 2019. The demand for LNG is increasing in … The Bunker Fuel Oil market report contains a comprehensive study of crucial aspects such as key trends and opportunities in this industry vertical … Bunker Fuel Market Overview Global Bunker Fuel Market is expected to grow at a CAGR of 3.4% from 2017 to 2025. Global bunker fuel demand is expected to decrease significantly in 2020 reflecting the impact of the coronavirus pandemic, with tough market conditions amplifying credit risks in … Chart. 7 Global Bunker Fuel Market Size in Value (US$ Bn) & Volume (Mn Tons), By Geography, 2013 – 2020 7.1 Overview 7.1.1 Global Bunker Fuel Market Share Analysis … Statista. Bunker fuel contains highly toxic element including sulphur threatening the marine environment and aquatic life hindering its market growth. High sulfur bunker fuel demand has risen across North Asia as more vessels that have completed scrubber installations emerged. Refiners had configured their refineries to produce more low sulfur fuel oil instead of high sulfur fuel oil since the International Maritime Organization's global … However, global energy demand crashed as countries went into lockdowns. However, there is still skepticism surrounding assertions that demand for LNG bunker fuel will drastically increase beyond 2020. Global bunker fuel market expected to reach USD 155.1 billion in 2024, growing at a CAGR of slightly above 5.5% between 2018 and 2024. Fuel oil employed as bunker fuel can be categorized into intermediate fuel oil (IFO), IFO 180, IFO 380, marine gas oil (MGO), marine diesel oil (MDO), low sulfur (LS) 380, and LS 180 Increase in globalization and urbanization has boosted the demand for various commodities in the U.S. Seaborne trade is economical; hence, it is widely practiced globally. Global Bunker Fuel Demand LNG Distillates Used Directly Dist in 0.5% Blend LSFO in 0.5% Blend LSFO Data supplied by S&P Global Platts 2019, Made by Josh Mosher $26,500,000 , … Demand for high-sulfur residual fuel oil for ship bunkers was 3.5 million barrels per day in 2018—out of 7 million barrels per day of total resid demand—and the global refining system is not yet equipped to make this volume of Global Bunker Fuel Market 2017: Industry, Sales, Demand, Analysis, Opportunities and Forecast to 2022 Published: Jan-2018 | Format: PDF | YQ Research | Number of pages: 114 Report Details The shift affects approximately four million barrels per day of oil consumption or 4% of The US Gulf Coast has taken a knock, with bunker global bunker fuel market covers segments, by grades (IFO 380, IFO 180, IFO others, and MGO/MDO), end-use (container fleet, tanker fleet, bulk and general cargo fleet), seller type (major oil company, leading independent distributors, and small independent distributors), size, trends, CAGR, forecast up to 2025 In May 2018, only 121 LNG powered vessels were in service. 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