(EnergyIndustry.Net, May 10, 2015 ) Bunker oil refers to the fuel that is utilized by the shipping and marine industries. Bunker fuel expenditure account for approximately 65-70% of the total trip expenses for a vessel, and ship operatives prefer buying bunker fuel from ports where the price is lower. Some operators prefer purchasing a major portion of the total fuel requirement for the voyage from a single port that offers bunker fuel at an economical price. However, this is not an industry wide situation as operators may spread their total fuel procurement over numerous ports.
The analysts forecast global bunker oil market to grow at a CAGR of 4.0% over the period 2014-2019.
Covered in this Report
The report covers segmentation of the global bunker oil market based on fuel type and geography.
The report, Global Bunker Oil Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. It also includes a discussion of the key vendors operating in this market.
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