And have released the latest version of their Top 10 Bunker Companies report updated for 2021. ET Global Bunker Oil Price and Trend Forecast (2021-2026) Figure 74. Some of the key players in the market include Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell Plc, Total S.A., BP Plc, and Petro China. With the worldwide increased focus on energy generation from cleaner fuels and increased in LNG based vessels are providing a major opportunity to the market studied. 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 da… LPG prices, 14-Dec-2020: The average price of LPG around the world is 0.61 U.S. Dollar per liter.However, there is substantial difference in these prices among countries. Asia-Pacific is expected to be the fastest-growing market in the forecast period mainly due to increased focus on a shift towards cleaner fuel for seaborn trade. The demand for energy is growing which demands better infrastructure for transportation. Mfame Team - January 12, 2017. 4.2 Market Size and Demand Forecast in USD billion, till 2025, 4.7.4 Threat of Substitutes Products and Services, 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements, 6.2 Strategies Adopted by Leading Players, 7. Bunker Fuel Market size is estimated at xxx million USD with a CAGR xx% from 2015-2019 and is expected to reach xxx Million USD in 2020 with a CAGR xx% from 2020 to 2025. "What are the implications if a buyer with a contract with a trader is able to claim from a supplier who made the physical delivery, but does not have a direct contractual relationship with said buyer?". The "Europe Bunker Fuel Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.. As of 2018, there were 143 LNG-fuelled ships in operation, while 140 ships were on order. 10/02/2019 | Author: Josh Lowell. The volume of oil demand affected by this change is significant. Press Release Bunker Fuel Market: Global Share, Size, Trends and Growth Analysis Forecast to 2020-2025 Published: Aug. 21, 2020 at 4:03 a.m. Jim Ritterbusch, president of Ritterbusch and Associates, said in a note, "As U.S.-China tariff concerns heighten, we see more downward adjustments to world oil demand both across this year and next in providing a limiter on occasional price advances. The EIA forecast that Brent crude oil prices will average $43/b in the fourth quarter of 2020 and $49/b in 2021. There has been a significant rise in LNG based seaborne trade vessels, aiming at a reduction in greenhouse gas emissions. Once again, the analytical and media communities viewed the Organization of the Petroleum Exporting Countries (OPEC) as the vehicle that could help bring about market stability, as long as it extends its output cuts to the end of this year. To understand key trends, Download Sample Report. The strict regulations in response to climate change have put pressure on shipping vessels to choose LNG in-place oil. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? All other services in your existing subscriptions will remain unchanged. Click here. Crude Prices Drop Again As Experts Forecast a Gloomy 2020; Crude Prices Drop Again As Experts Forecast a Gloomy 2020. Click here. The average for the month 50.17. For the largest ships, which account for most bunker fuel demand, IHS Markit expects that scrubbers will be the preferred solution, as they would be economically attractive from 2020 onwards. Oil Price forecast for December 2020. ... 2020's Average Bunker Price 8% Lower Than 2019. Brent oil price forecast for January 2021. We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination. Aided by the rising oil and gas exploration activities, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 1.8%. ", Economists over the past week have revised down their GDP growth forecasts for the U.S., China, India, and Brazil, and Barclays noted that "The revisions imply a 300,000 barrel per day [bpd] reduction in our current global oil demand outlook of 1.3 million bpd year-on-year for this year.". Furthermore, based on fuel, the High Sulfur Fuel Oil (HSFO) segment held a dominant share of the global bunker fuel market in 2018 followed by Liquefied Natural Gas (LNG). This in turn, with increasing investment in infrastructure development for LNG use in the region and increasing desire towards energy generation and transportation for being cleaner and cheaper, this region is expected to show growth in the bunker fuel market during the forecasted period. Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts 6.2.3 Global Bunker Oil Price Forecast by Type (2021-2026) 6.3 Global Bunker Oil Market Share by Price Tier (2015-2020): Low-End, Mid-Range and High-End 7 Market Size by Application (2015-2026) The market is segmented by Fuel Type (High Sulfur Fuel Oil (HSFO), Very Low Sulfur Fuel Oil (VLSFO), Marine Diesel Oil (MDO), Liquefied Natural Gas (LNG)), Vessel Type (Containers, Tankers, General Cargo, Bulk Carrier, and Others), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The global bunker fuel market attained a volume of 4.3 million b/d in 2020, driven by the growing marine trade. The Global Bunker Quantity Survey Market report provides information about the Global industry, including valuable facts and figures. A quicker uptake of LNG as a fuel for shipping is thus clearly visible. 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