In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Bunker Fuel market for 2018-2023.
Bunker fuel is technically any type of fuel oil used aboard vessels. This kind of material can be broken down into different categories based on its chemical composition, intended purpose, and boiling temperature. In comparison with other petroleum products, bunker fuel is extremely crude and highly polluting.
Fuel utilized by shipping companies for fueling their marine fleet is commonly referred to as bunker fuel. Currently, fuel oil is the most widely used bunker fuel. However, apart from fuel oil, other middle distillate fuels are also utilized as bunker fuels. Bunker fuel costs account for approximately 70% of the total voyage expenditure for a vessel and ship operators prefer purchasing bunker fuel from ports where the cost is lower.
At present, Southeast Asia, EU, the US, China and Japan have most of the refueling ports. Singapore port is the world largest refueling port. EU follows the Singapore bunker fuel market in terms of consumption with leading ports like Rotterdam and Antwerp, etc. The United States is another key market for the global bunker fuel industry. China is also being the main contributors to this industry with world leading ports like Shanghai Port and Shenzhen Port, etc.
In the bunker industry, there are two primary kinds of fuels currently being used; distillate fuel and residual fuel. Among the two, distillate fuel accounted for around 80.37% of global bunker consumption in 2015. In recent years, liquefied natural gas (LNG) as a bunker fuel also gets much attentions in the bunker fuel market.
Over the next five years, LPI(LP Information) projects that Bunker Fuel will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Bunker Fuel market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Distillate Fuel Oil
Residual Fuel Oil
Segmentation by application:
General Cargo Vessels
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
World Fuel Services
China Marine Bunker
Total Marine Fuel
China Changjiang Bunker (Sinopec)
Alliance Oil Company
Shanghai Lonyer Fuels
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Bunker Fuel consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Bunker Fuel market by identifying its various subsegments.
Focuses on the key global Bunker Fuel manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Bunker Fuel with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Bunker Fuel submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.