Bunker Fuel Market Overview
Portland, OR -- (SBWIRE) -- 07/19/2017 -- Bunker fuel is the term used to describe the oil used in the bunkers of heavy, deep-sea cargo ships to power its engines. These cargo ships usually use heavy residue oil left after the extraction of lighter fractions like diesel, gasoline, and other light hydrocarbons.
Bunker fuel is also called as fuel oil and is a thick and highly viscous oil, sometimes requiring heating or mixing with 10% diesel to burn. It is highly toxic, persistent, and biologically harmful.
Global Bunker Fuel Market is expected to grow at a CAGR of 3.4% from 2017 to 2025.
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- Increasing hydrocarbon resource development activities in offshore areas resulting in increased requirement for bunker fuel are expected to increase the market demand for bunker fuel.
- Rapidly increasing bunker requirements in crude oil and product tankers is anticipated to foster the demand for bunker fuel during the forecast period.
- Fuel reduction initiatives by global shipping community is expected to reduce the demand for bunker fuel thereby causing a slow-down in the market during the forecast period.
The top players in the global bunker fuel market include Aegean Marine Petroleum Network Inc., Chemoil Energy Limited, World Fuel Services Corporation, Gulf Agency Company Ltd., Gazpromneft Marine Bunker Ltd., BP Marine Ltd., Exxon Mobil Corporation, Royal Dutch Shell PLC, Bunker Holding A/S, and Lukoil-Bunker LLC.
By Fuel Grade
- Intermediate Fuel Oil (IFO) 380
- Intermediate Fuel Oil (IFO) 180
- Intermediate Fuel Oil (IFO) Others
- Marine Gas Oil (MGO)/Marine Diesel Oil (MDO)
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- Container Vessels
- Tankers Vessels
- Bulk & General Cargo Vessels
- Other Vessels
- North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Saudi Arabia
o Rest of LAMEA
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Table of Content for
1. Executive summary
1.1. Key Findings
1.2. Market Attractiveness and Trend analysis
1.3. Competitive Landscape and recent industry development analysis
2.1. Report Description
2.2. Scope and Definitions
2.3. Research Methodology
3. Market landscape
3.1. Growth Drivers
3.1.1. Impact Analysis
3.2. Restrains and Challenges
3.2.1. Impact Analysis
3.3. Porter's Analysis
3.3.1. Bargaining power of buyers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of substitutes
3.3.4. Industry rivalry
3.3.5. Threat of new entrants
3.4. Global Bunker Fuel Market Shares Analysis, 2014-2025
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List of Tables
Contain 33 Tables
List of Figures
Contain 46 Figures