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. Bunker fuel contains highly toxic element including sulphur threatening the marine environment and aquatic life hindering its market growth. 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. 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 , … Chart. 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 Bunker Fuel Market Overview Global Bunker Fuel Market is expected to grow at a CAGR of 3.4% from 2017 to 2025. “Global bunker demand is expected to decrease significantly in 2020, even if it had held up quite well (in April and May),” Einemo said. 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. 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. The shift affects approximately four million barrels per day of oil consumption or 4% of Global marine fuel demand is estimated at about 300 million … Platts Bunker Fuel service helps to develop, connect & explain the market price of crude oil and oil products. 【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 Press release - databridgemarketresearch - Bunker Fuel Market 2020 Will Grow at Significant CAGR of 9.50% by 2027 With Global Players - Total, … Discover how you can access our oil prices, news & analysis Learn More About S&P Global Platts Bunker Demand for bunker fuel alone is estimated to have fallen between 7-17% in 2020. 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. The US Gulf Coast has taken a knock, with bunker Long-term growth projected at ~2.5%/yr. Statista. 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. The new global limits on sulfur content for marine fuels are estimated to significantly impact the bunker fuel market. IBIA’s members forecast a 7%-17% drop in bunker fuel demand globally in 2020, she said. 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. Bunker fuel is the cheapest available and most used fuel in the shipping industry and supports the demand for bunker fuel market. However, global energy demand crashed as countries went into lockdowns. 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 Global bunker demand expected to decline this year. 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 IEA. Demand for bunker fuel alone is estimated to have fallen between 7-17% in 2020. 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%. (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 … 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 … Naturally, commodity prices have also dropped. However, there is still skepticism surrounding assertions that demand for LNG bunker fuel will drastically increase beyond 2020. "Global marine bunkers product demand in 2018 with a forecast for 2019 to 2024, by fuel type (in million barrels per day)." IMO sulphur regulations therefore have the potential to be highly disruptive to the pricing and availability of compliant fuels. 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 … 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 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 … In May 2018, only 121 LNG powered vessels were in service. 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. November 15, 2019. High sulfur bunker fuel demand has risen across North Asia as more vessels that have completed scrubber installations emerged. Bunker fuel is the term used to describe the oil used in the bunkers of heavy, deep-sea cargo ships to power its engines. 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 The US Gulf Coast has taken a knock, with bunker IEA the marine environment and aquatic life its... Ships to power its engines to have fallen between 7-17 % in 2020 the pricing availability... 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