Global Bunker Fuel Market, Volume Share by Fuel Grade Segment, By 2020

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Bunker Fuel Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2014 - 2020
Published Date
10-Dec-2014
127 Page Report
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Bunker Fuel Industry: China and Singapore Account Majority of
Global Bunker Fuel Consumption:Transparency Market Research
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Bunker Fuel Market
REPORT DESCRIPTION
Bunker Fuel Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014
- 2020
Bunker fuel market is the provider of fuel oil consumed by ship vessels, and is especially important for the
shipping industry. The facts that ships will continue to consume fossil fuels until the day this industry
ceases, and that bunkers fuel costs form nearly 70% part of a ship’s running costs, including daily running
and voyage costs, makes the bunker fuel market highly important for the global shipping industry. Any
fluctuation in prices of fossil fuels has a direct effect on the profit margins of shipping companies.
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Thus, it is common with marine operators to purchase bunker fuel from ports where cost of fuel is lower.
Some operators also prefer purchasing a major percent of total bunker fuel required for a fleet from a
single bunker fuel port. The types of companies supplying bunker fuel, the type of bunker fuel (based upon
fuel grades) supplied by these companies, and the variety of vessels using the bunker fuel are the chief
elements of a typical bunker fuel marketplace.
An important subsidiary of the shipping industry, the global bunker fuel market is also a huge market.
Analysts state that the global market of bunker fuel observed demands worth nearly 372.30 million tons in
the year 2013. The market is expected to grow at a CAGR of 3.1% in the next five to six years and attain
demand value worth 460.00 million tons by the end of 2020.
Bunker Fuel Market: Segmentation
The shipping industry currently uses two varieties of fuels: residual fuel and distillate fuel. Amongst these
two, the segment residual fuel garnered majority share of demands in the market in 2013. However, major
transit routes of the world have been declared as emission control areas (ECAs) by law to reduce sea
pollution. This will largely affect the fuel consumption trend of shipping companies, and allow demand rise
for middle distillate and low sulfur fuels from ships sailing in EACs.
Currently, presence of large ports in Singapore and China and rising traffic of containerized vessels and oil
tankers in these regions have persuaded investors to increase investment in the Asia-Pacific bunker fuel
industry. Europe is the second leading market of the overall bunker fuel market. Bunkering ports are highly
developed in Europe, leading to low turnaround times for vessels that choose to fuel in the region.
Important European ports such as Antwerp, Piraeus, and Rotterdam have emerged as major bunkering
destinations in the region.
Four chief categories of bunker fuel grades are available in the market: MDO/MGO, IFO 180, IFO 380, and
IFO Others. IFO 380 is currently the most traded bunker fuel grade globally, is more economical than most
other fuel grades, and is easily available at all major bunkering ports across the globe.
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Bunker Fuel Market
Demand for bunker fuels is currently highest from general and bulk cargo vessels. However, the relatively
more amount of manpower and time required for loading and unloading cargo vessels may lead to gradual
substitution of these vessels with container vessels. As a result, market shares of these end user segments
could dramatically change in the near future.
Bunker Fuel Market: Competitive Landscape
Three kinds of sellers supply bunker fuel to the market currently: large independent bunker fuel suppliers,
small independent bunker fuel suppliers, and major oil companies. Companies such as Lukoil-Bunker LLC
and Gazpromneft Marine Bunker LLC operate in markets restricted to certain regional markets only,
however, companies such as World Fuel Services Corporation and Chemoil Energy Limited offer services
across all major ports of the globe. Other chief companies operating in the global bunker fuel market
include Aegean Marine Petroleum Network, Bunker Holding A/S, and BP Marine Ltd.
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Large independent bunker fuel suppliers having sophisticated infrastructure such as blending facilities and
storage terminals in major bunkering ports of the world have an added advantage over small bunker fuel
suppliers.
TABLE OF CONTENT
Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
Chapter 2 Executive Summary
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Bunker Fuel Market
2.1 Global Bunker Fuel Market
Chapter 3 Bunker Fuel Market – Industry Analysis
3.1 Introduction
3.2 Value Chain Analysis: Bunker Fuel Market
3.3 Market Drivers
3.3.1 Increasing Hydrocarbon Resource Development Activities in Offshore Areas Resulting in Increased
Requirement for Bunker Fuel
3.3.1.1 Global offshore oil and gas production estimates and forecast, by region, 2013 – 2020
(Million Barrels/ Day)
3.3.2 Rapidly Increasing Bunker Requirements in Crude Oil and Product Tankers
3.4 Market Restraints
3.4.1 Fuel Reduction Initiatives by Global Shipping Community
3.4.2 LNG as an Alternative Fuel
3.4.2.1 Current development status of LNG bunkering infrastructure globally, by ports, 2013
3.5 Market Opportunities
3.5.1 Expansion of ECA’s will Increase Demand for middle distillate oils (MDO & MGO)
3.5.1.1 Global fuel sulphur limits within and outside ECAs
3.6 Porter’s Five Forces Analysis: Bunker Fuel Market
3.6.1 Bargaining power of suppliers
3.6.2 Bargaining power of buyers
3.6.3 Threat from new entrants
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3.6.4 Degree of competition
3.6.5 Threat from substitutes
3.7 Port Market Share: Bunker Fuel Market
3.7.1 Bunker fuel market, port market share,2013
3.8 Port analysis: Bunker Fuel Market
3.8.1 Major Choke Points and Bunker ports globally
3.8.2 Port of Singapore
3.8.3 Port of Fujairah
3.8.4 Port of Rotterdam
3.9 Market Attractiveness Analysis of Bunker Fuel Market, by Region, 2013
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4.1 Global Bunker Fuel Market: Fuel Grade Overview
4.1.1 Global Bunker Fuel Market, Volume Share by Fuel Grade,2013 and 2020
4.2 IFO 380
4.2.1 Global IFO 380 estimates and forecast, 2013 – 2020 (Million Tons) (USD Billion)
4.3 IFO 180
4.3.1 Global IFO 180 estimates and forecast, 2013 – 2020 (Million Tons) (USD Billion)
4.4 IFO Others
4.4.1 Global IFO Others estimates and forecast, 2013 – 2020 (Million Tons) (USD Billion)
4.5 MGO/MDO
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Bunker Fuel Market
4.5.1 Global MGO/MDO estimates and forecast, 2013 – 2020 (Million Tons) (USD Billion)
Chapter 5 Bunker Fuel Market: End-Use Analysis
5.1 Global Bunker Fuel Market: End-Use Overview
5.1.1 Global Bunker Fuel Market, volume share by end-use, 2013 and 2020
5.2 Tanker Fleet
5.2.1 Global Bunker Fuel consumption by tanker fleet, 2013-2020 (Million tons) (USD Billion)
5.3 Container Fleet
5.3.1 Global Bunker Fuel consumption by container fleet, 2013-2020 (Million tons) (USD Billion)
5.4 Bulk and General Cargo Fleet
5.4.1 Global Bunker Fuel consumption by bulk and general cargo fleet, 2013-2020 (Million tons) (USD
Billion)
5.5 Others
5.5.1 Global Bunker Fuel consumption by others, 2013-2020 (Million tons) (USD Billion)
Chapter 6 Bunker Fuel Market: Seller Type Analysis
6.1 Global Bunker Fuel Market: Seller Type overview
6.1.1 Global Bunker Fuel Market, volume share by seller type, 2013 and 2020
6.2 Major Oil Company
6.2.1 Global Supply by Major Oil Companies, 2013 – 2020 (Million Tons) (USD Billion)
6.3 Leading Independent distributors
6.3.1 Global Supply by Leading Independent Distributors, 2013 – 2020 (Million Tons) (USD Billion)
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Bunker Fuel Market
6.4 Small independent distributors
6.4.1 Global Supply by Small Independent Distributors, 2013 – 2020 (Million Tons) (USD Billion)
Chapter 7 Bunker Fuel Market: Regional Analysis
7.1 Global Bunker Fuel market: Regional Overview
7.1.1 Global Bunker Fuel consumption market, volume share by region, 2013 and 2020
7.2 North America
7.2.1 North America Bunker Fuel consumption estimates and forecast, 2013-2020 (Million tons)(USD
Billion)
7.2.2 North America Bunker Fuel consumption estimate and forecast, by fuel grade, 2013 – 2020,
(Million Tons) (USD Billion)
7.2.3 North America Bunker Fuel consumption estimate and forecast, by end use segment, 2013 –
2020, (Million Tons) (USD Billion)
7.2.4 North America Bunker Fuel consumption estimate and forecast, by seller type, 2013 – 2020,
(Million Tons) (USD Billion)
7.3 Europe
7.3.1 Europe Bunker Fuel consumption estimates and forecast, 2013-2020 (Million tons)(USD Billion)
7.3.2 Europe Bunker Fuel consumption estimate and forecast, by fuel grade, 2013 – 2020, (Million Tons)
(USD Billion)
7.3.3 Europe Bunker Fuel consumption estimate and forecast, by end use segment, 2013 – 2020,
(Million Tons) (USD Billion)
7.3.4 Europe Bunker Fuel consumption estimate and forecast, by seller type, 2013 – 2020, (Million
Tons) (USD Billion)
7.4 Asia-Pacific
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Bunker Fuel Market
7.4.1 Asia-Pacific Bunker Fuel consumption estimates and forecast, 2013-2020 (Million tons)(USD
Billion)
7.4.2 Asia-Pacific Bunker Fuel consumption estimate and forecast, by fuel grade, 2013 – 2020, (Million
Tons) (USD Billion)
7.4.3 Asia-Pacific Bunker Fuel consumption estimate and forecast, by end-use segment, 2013 – 2020,
(Million Tons) (USD Billion)
7.4.4 Asia-Pacific Bunker Fuel consumption estimate and forecast, by seller type, 2013 – 2020, (Million
Tons) (USD Billion)
7.5 Middle East
7.5.1 Middle East Bunker Fuel consumption estimates and forecast, 2013-2020 (Million tons)(USD
Billion)
7.5.2 Middle East Bunker Fuel consumption estimate and forecast, by fuel grade, 2013 – 2020, (Million
Tons) (USD Billion)
7.5.3 Middle East Bunker Fuel consumption estimate and forecast, by end use, 2013 – 2020, (Million
Tons) (USD Billion)
7.5.4 Middle East Bunker Fuel consumption estimate and forecast, by seller type, 2013 – 2020, (Million
Tons) (USD Billion)
7.6 RoW
7.6.1 RoW Bunker Fuel consumption estimates and forecast, 2013-2020 (Million tons)(USD Billion)
7.6.2 RoW Bunker Fuel consumption estimate and forecast, by fuel grade, 2013 – 2020, (Million Tons)
(USD Billion)
7.6.3 RoW Bunker Fuel consumption estimate and forecast, by end user segment, 2013 – 2020, (Million
Tons) (USD Billion)
7.6.4 RoW Bunker Fuel consumption estimate and forecast, by seller type, 2013 – 2020, (Million Tons)
(USD Billion)
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Chapter 8 Company Profles
8.1 Chemoil Energy Limited
8.1.1 Company overview
8.1.2 Product portfolio
8.1.3 Financial overview
8.1.4 Business strategy
8.1.5 Recent developments
8.2 Aegean Marine Petroleum Network, Inc.
8.2.1 Company overview
8.2.2 Product portfolio
8.2.3 Financial overview
8.2.4 Business strategy
8.2.5 Recent developments
8.3 World Fuel Services Corporation
8.3.1 Company overview
8.3.2 Product portfolio
8.3.3 Financial overview
8.3.4 Business strategy
8.3.5 Recent developments
8.4 Gulf Agency Company Ltd
8.4.1 Company overview
8.4.2 Product portfolio
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8.4.3 Financial overview
8.4.4 Business strategy
8.4.5 Recent developments
8.5 Gazpromneft Marine Bunker LLC
8.5.1 Company overview
8.5.2 Product portfolio
8.5.3 Financial overview
8.5.4 Business strategy
8.5.5 Recent developments
8.6 BP Marine Ltd.
8.6.1 Company overview
8.6.2 Product portfolio
8.6.3 Financial overview
8.6.4 Business strategy
8.6.5 Recent developments
8.7 Exxon Mobil Corporation
8.7.1 Company overview
8.7.2 Product portfolio
8.7.3 Financial overview
8.7.4 Business strategy
8.7.5 Recent developments
8.8 Royal Dutch Shell plc
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8.8.1 Company overview
8.8.2 Product portfolio
8.8.3 Financial overview
8.8.4 Business strategy
8.8.5 Recent developments
8.9 Bunker Holding A/S
8.9.1 Company overview
8.9.2 Product portfolio
8.9.3 Financial overview
8.9.4 Business strategy
8.9.5 Recent developments
8.10 Lukoil-Bunker LLC
8.10.1 Company overview
8.10.2 Product portfolio
8.10.3 Financial overview
8.10.4 Business strategy
8.10.5 Recent developments
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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. Some operators prefer purchasing a major portion of the total fuel requirement for the voyage from a single port which offers bunker fuel at economical prices. However, this is not an industry-wide scenario as other operators may spread the total fuel purchase over numerous ports. The stringent sulfur emission standards, especially in Emission Control Areas (ECA), have gradually led shipping companies to adopt clean fuel grades. The middle distillate and low sulfur fuels are now being traded in all major ports of the world. Though marine fuel is traded at almost all ports around the world, a major volume of the overall trading activities are concentrated among a select number of ports. Ports that are strategically located along major transit routes have emerged as prime bunkering destinations. The Port of Singapore and Fujairah are large bunkering ports, which account for a significant share of the overall bunker fuel traded in the global market.

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