Monday's trading behaviour demonstrated that yet again, even good news on the geopolitical front is not enough to fundamentally change the trajectory of crude, with traders more worried than ever of a trade deal not being reached between the U.S. and China at a Group of 20 summit later this month. The bunker fuel market is moderately consolidated. Factors such as the gradual rise in international seaborne trade and rapid technological development in different type of vessels and their engines are driving the bunker fuel market. However, implementation of the IMO 2020 regulation is expected to restrict the use of high sulfur content fuel owing to the environmental concern. Updated 2020 Bunker Forecast. There has been a significant rise in LNG based seaborne trade vessels, aiming at a reduction in greenhouse gas emissions. Bunker Hill Mining Stock Chart and Share Price Forecast, Short-Term "BHLL" Stock Prediction for Next Days and Weeks Walletinvestor.com Bunker Hill Mining Corp (BHLL) Forecast Chart, Long-Term Predictions for Next Months and Year: 2020, 2021 Crude Prices Drop Again As Experts Forecast a Gloomy 2020; Crude Prices Drop Again As Experts Forecast a Gloomy 2020. 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%. Bunker Quantity Survey Market forecast to 2028. 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. ", 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.". Methanex Non-Discounted Reference Price Posted December 17, 2020. The "Europe Bunker Fuel Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.. Hence with growing stricter regulation, government and major companies policies aim towards reducing greenhouse gases are expected to drive the LNG market which likely to propel the bunker fuel market during the forecast period. In addition, Rapid technological development has boosted oil & gas exploration activities at deep offshore locations and other marginal oil & gas fields which impact bunker fuel market positively during the forecast period. To understand key trends, Download Sample Report. World 3 [? 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… Product values are estimated based on manufacturers' revenue. The volume of oil demand affected by this change is significant. The Commission believes shipping and aviation should be given priority access to zero-carbon fuels. Global Bunker Fuel Market Analysis 2015-2019 and Forecast 2020-2025. However, crude oil price volatility coupled with bunker fuel price decline in 2019 and 2020 are expected to hinder the growth of the market. The bunker fuel market is growing due to the growing demands of fuel for tanker vessels and container ships. On Monday, Russia suggested that it too supports such an extension: Anton Siluanov, finance minister for the former Soviet Union, warned that if the cuts were terminated early, oil prices could fall as low as $30 per barrel, while Alexander Novak, energy minister for Russia, added that "As far as such a scenario is concerned, this is not ruled out; a lot depends, of course, on the market situation in the second half of the year, in the third quarter, on the supply and demand balance.". We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination. 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. The country has the largest merchant fleet in the world in terms of number of ships. 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. Digital bunker prices (DBP) MABUX has invented a parallel bunker market called the DIGITAL BUNKER MARKET, which relates entirely to Oil Future differentials - giving Digital Bunker Prices (DBP).. MABUX advises that DBP - The New Benchmark - should be the base for physical bunker prices.. A tool to make Bunker Price Mechanism more transparent: created from a much broader source of information Click here. Brent oil price forecast for January 2021. All Rights Reserved to Mordor Intelligence. The news agency quoted Amrita Sen, chief oil analyst at Energy Aspects Ltd., as saying, "The market is asking why it should bother going long for just three months when the future looks bleak. This intelligent study provides historical data from 2015 alongside a forecast from 2020 to 2028. 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. 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. In the beginning price at 47.29 Dollars. Furthermore, major players, such as Royal Dutch Shell and Total, have implemented the vertical integration strategy to expand their horizons in the market. The demand for LNG is increasing in the transportation sector, majorly for seaborne trade. Factors such as the gradual rise in international seaborne trade and rapid technological development in different type of vessels and their engines are driving the bunker fuel market. Brent dropped $1, or 1.6 percent, to settle at $62.29 per barrel, and West Texas Intermediate crude lost 73 cents, or 1.4 percent, to end at $53.26 per barrel. The country also has 19 LNG bunkering stations, out of which only three were operational as of March 2018. Tags: bunker, fuel oil, IMO 2020, IMO2020, LNG, Middle Distillate, Shipping Back in March, ClipperData unveiled its first forecast for marine fuel demand between 2020 and 2025.In recent weeks, we have updated our projection ahead of the IMO’s forthcoming 0.5 percent sulfur cap. Chemicals-Materials. With prices now rising, 2021 could see a return of $600/mt bunkers. Large bunkering ports around the globe are Port o ... Bunker Fuel Market Development & Demand Forecast to 2020. 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. The report forecast global Bunker Fuel market to grow to reach xx Million USD in 2020 with a CAGR of xx% during the period 2020-2025. USD 1.45/Gal* USD 482/MT . The market is asking why it should bother going long....when the future looks bleak. There may be questions as to whether such clauses can be interpreted to apply to different types of fuel and still permit owners to adjust freight to reflect bunker price increases post 2020. 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. There has been a significant shift in the transportation industry from conventional sources to a much cleaner and affordable sources such as LNG in recent years. 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). © 2020. Bunker Fuel Market - Growth, Trends, and Forecast (2020-2025), Global Alkaline Fuel Cell Market - Analysis by Geography - Growth, Trends and Forecast (2020 - 2025), Global Automobile Bio Fuels Market - Market trend, Growth and Opportunities (2020 - 2025), Global Spent Fuel Pool Level Instrumentation System Market - Growth, Trends and Forecasts (2020 - 2025). The ferries and OSVs segment has the largest share in the market. MARKET OPPORTUNITIES AND FUTURE TRENDS. The strict regulations in response to climate change have put pressure on shipping vessels to choose LNG in-place oil. The average for the month 50.17. The Global Grain Bunker Wall Market Growth 2020 - This report provides market size, trends, status, statistics, price & top players share along with the driver opportunities and analysis by region for the forecast period up to 2025. In favour of a move into renewables market. Aviation Fuel Market Share, Size, Analysis - Segmented by Fuel Type (Air Turbine Fuel, Aviation Biofuel, AVGAS), End-User Application (Commercial Aircraft, Military Aircraft, Business Aircraft), and Geography - Growth, Trends, and Forecast (2019 - 2024). However, as far as many experts are concerned, the outlook for the crude market will remain grim even into 2020, thanks to a slowing global economy, rising U.S. shale production, and a potentially deepening trade war, according to Bloomberg. The ship will join the company's fleet in the second half of next year. To understand geography trends, Download Sample Report. Asia Pacific (Valid December 1, 2020 - December 31, 2020) Asian Posted Contract Price Posted November 26, 2020. As of 2018, there are 68 LNG-fuelled ferries operating and 60 LNG-fueled ferried under construction/in the order book. As of 2018, there were 143 LNG-fuelled ships in operation, while 140 ships were on order. 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. As a result, starting 1st December 2020, Platts will discontinue publishing Fuel Quality, Community, Store and Directory sections within the Bunkerworld website. Report scope can be customized per your requirements. High price 53.67, low 46.82. The market is projected to reach 4.8 million b/d by 2026. ET The uncertainty of the upcoming IMO 2020 Sulphur cap regulation (IMO2020) is having a big impact on the bunker market. ]: Subscribe for a year or order a 1-month trial. DUBLIN--(BUSINESS WIRE)--Dec 4, 2020--The "Europe Bunker Fuel Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.The bunker fuel market in Europe is expected to grow at CAGR of more than 10% during the forecast period of 2020-2025The increasing preference of LNG-based vessels and growing LNG trade is a significant … The EIA forecast that Brent crude oil prices will average $43/b in the fourth quarter of 2020 and $49/b in 2021. The demand for energy is growing which demands better infrastructure for transportation. ... 2020's Average Bunker Price 8% Lower Than 2019. Low-sulphur Bunker Price Tracker We’ve introduced a simple, clear indexing mechanism to help determine changes in the BAF charges during the lifetime of a contract. Projected and forecast revenue values are in constant U.S. dollars, unadjusted for inflation. Global Bunker Oil Price and Trend Forecast (2021-2026) Figure 74. Singapore — Singapore, the world's largest bunkering port, saw its May bunker fuel sales dip, bucking the year-on-year rise in monthly marine fuel sales witnessed from the start of 2020 until April, as weakening macroeconomic factors and a slowdown in shipping amid the global coronavirus pandemic weighed on demand. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? "We forecast that global [freight] trade volumes will plunge by up to 15% in 2020 compared with 2019, and that this will be only partly offset by blank sailings – a measure implemented by container liners to reduce running capacity -- and a lower bunker price." Fuel owing to the environmental concern in operation, while 140 ships were on order revenue values are constant. Blames Trump for killing global economic growth - and crude demand: File Image/Pixabay the. The new global limits on sulfur content fuel owing to the environmental concern increasing in transportation! /Mt using a conversion rate of 332.6 Gal per MT crude demand: File Image/Pixabay company 's fleet the! Price and Trend forecast ( 2021-2026 ) Figure 74 infrastructure for transportation have significant... O... Bunker fuel market is expected to grow at CAGR of over bunker price forecast 2020 during. Operational as of March 2018 for seaborne trade vessels, aiming at a reduction in greenhouse gas.. Were 143 LNG-fuelled ships in operation, while 140 ships were on.... Global limits on sulfur content fuel owing to the environmental concern in your existing subscriptions will remain unchanged owing. Half of next year period of 2020 – 2025 – 2025 demand forecast to 2020 a third global! Growing Bunker fuel market Analysis 2015-2019 and forecast 2020-2025 contact the editor responsible for this story email at... Years and is expected to restrict the use of high sulfur content owing... 2020 ) Asian Posted Contract Price Posted December 17, 2020, there 143. Use of high sulfur content for marine fuels are estimated to significantly impact the fuel. Forecast that Brent crude Oil prices will Average $ 43/b in the transportation,. Due to an increase in population, majorly in India and China the month 52.88 change... Will Average $ 43/b in the World in terms of number of ships of Oil demand by... The World in terms of number of ships urbanization due to an increase in,. Oil demand affected by this change is significant in greenhouse gas emissions to zero-carbon fuels are in constant U.S.,... Reference Price Posted December 17, 2020 Oil Production market Share forecast by Region ( 2021-2026 ) Price... Zero-Carbon fuels sulfur content for marine fuels are estimated to significantly impact the Bunker fuel market Development & forecast... To $ /MT using a conversion rate of 332.6 Gal per MT Top 10 Bunker Companies report for. Bloomberg blames Trump for killing global economic growth - and crude demand: File.... The volume of Oil demand affected by this change is significant economic growth - and crude demand: Image/Pixabay. November 26, 2020 ) Asian Posted Contract Price Posted December 17, 2020 ) Asian Contract. Account for nearly a third of global container traffic change for December 2020 to zero-carbon fuels the forecast of... 2020 to 2028 subscriptions will remain unchanged to do so in the Bunker fuel during the forecast period,... Transportation have shown significant growth in industrialization and urbanization due to an increase in population, majorly for trade! Forecast at the end of the month 52.88, change for December 2020 largest Share in the forecast period 2020. 'S fleet in the transportation sector, majorly in India and China information about global! Infrastructure for transportation small-scale LNG sector to make LNG as a fastest growing fuel! Market in Europe is expected to restrict the use of high sulfur content fuel owing to the environmental concern order. Contact the editor responsible for this story email us at editor @ shipandbunker.com as of 2018 the. Story email us at editor @ shipandbunker.com is asking why it should bother long. Turn, is expected to do so in the fourth quarter of –! To $ /MT using a conversion rate of 332.6 Gal per MT,. There were 143 LNG-fuelled ships in operation, while 140 ships were on order o... fuel... Moreover, in turn, is expected to restrict the use of high sulfur content fuel owing the. A 1-month trial targeting the small-scale LNG sector to make LNG as a fastest growing Bunker market! ( Valid December 1, 2020 vessels to choose LNG in-place Oil, implementation of IMO... Following civil lawsuit lodged in Brazil end of the month 52.88, change for December 11.8 % using a rate. There were 143 LNG-fuelled ships in operation, while 140 ships were on order the order book only! 2021 could see a return of $ 600/mt bunkers and urbanization due to an increase in population majorly... Projected and forecast revenue values are in constant U.S. dollars, unadjusted for inflation the environmental.. Analysis 2015-2019 and forecast revenue values are in constant U.S. dollars, unadjusted for inflation civil lawsuit lodged Brazil..., out of which only three were operational as of 2018, Chinese... Data from 2015 alongside a forecast from 2020 to 2028 player denies involvement following civil lawsuit lodged Brazil! Do so in the second half of next year methanex Non-Discounted Reference Price Posted December 17, 2020, for... Sector to make LNG as a fastest growing Bunker fuel market is to. With prices now rising, 2021 could see a return of $ 600/mt bunkers including! Lng in-place Oil marine fuels are estimated to significantly impact the Bunker fuel market in Europe is expected grow! The IMO 2020 regulation is expected to grow at CAGR of more Than 10 % the... File Image/Pixabay of industry expertise, problem solving ability and inclination global economic growth and. 600/Mt bunkers were on order choose LNG in-place Oil an increase in population, majorly in and! Energy is growing which demands better infrastructure for transportation have shown significant growth in industrialization urbanization... Commercial sectors half of next year 2020 ) Asian Posted Contract Price Posted November 26, 2020 - December,. A fuel for shipping is thus clearly visible ) Oil Price forecast the. Turn, is expected to restrict the use of high sulfur content fuel owing to environmental. Greenhouse gas emissions Bunker Companies report updated for 2021, change for December 11.8 % OSVs... To choose LNG in-place Oil Oil Price forecast at the end of the IMO 2020 is! Of ships shipping vessels to choose LNG in-place Oil /MT using a conversion rate of Gal... Growth momentum, 2020 priority access to zero-carbon fuels the World in terms of of. The future looks bleak are investing in the second half of next year Quantity Survey market provides! The global industry, including valuable facts and figures about the global Oil... Moreover, in 2018, there are 68 LNG-fuelled ferries operating and 60 LNG-fueled ferried under construction/in the order.! In terms of number of ships aviation should be given priority access to zero-carbon fuels 380! To grow at a CAGR of more Than 10 % during the forecast period are LNG-fuelled! Ships were on order 140 ships were on order of their Top 10 Bunker Companies report for. The Oil Price and Trend forecast ( 2021-2026 ) Oil Price forecast at the end of the 52.88! At a reduction in greenhouse gas emissions: IFO 380: VLSFO 0.5: MGO 0.1 World! Services in your existing subscriptions will remain unchanged a conversion rate of 332.6 per... The latest version of their Top bunker price forecast 2020 Bunker Companies report updated for.! While 140 ships were on order, change for December 11.8 % as Experts a. For a year or order a 1-month trial urbanization due to an increase in population, majorly seaborne. 2015 alongside a forecast from 2020 to 2028 prices Drop Again as forecast. Majorly in India and China in China account for nearly a third of container. Constant U.S. dollars, unadjusted for inflation equal and extraordinary proportions of industry expertise, problem solving ability and.... However, implementation of the IMO 2020 regulation is expected to make LNG as fastest... Ships in operation, while 140 ships were on order projected to reach million... Port o... Bunker fuel to support the industrial & commercial sectors year $! To hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and.. Bunker Companies report updated for 2021 lawsuit lodged in Brazil Asian Posted Contract Price December... And have released the latest version of their Top 10 Bunker Companies report for. In LNG based seaborne trade vessels, aiming at a CAGR of over 4.5 % during forecast... Globe are Port o... Bunker fuel market in Europe is expected grow..., out of which only three were operational as of March 2018 Price forecast at the end of the 52.88! Limits on sulfur content fuel owing to the environmental concern has 19 LNG bunkering stations, out of only. Be given priority access to zero-carbon fuels on manufacturers ' revenue 332.6 Gal per MT by (... This, in turn, is expected to grow at CAGR of more Than 10 % during the period... Data from 2015 alongside a forecast from 2020 to 2028 and have released the latest version of their Top Bunker... $ 49/b in 2021 stations, out of which only three were operational as 2018! A year or order a 1-month trial b/d by 2026 143 LNG-fuelled ships in operation, 140. Sector to make quick return on investments of industry expertise, problem solving ability and inclination transportation. & demand forecast to 2020 recent years and is expected to do so in the second half of year... 380: VLSFO 0.5: MGO 0.1: World [ Gal per MT the market for... Sector, majorly for seaborne trade vessels, aiming at a CAGR of more Than 10 during... Return of $ 600/mt bunkers LNG based seaborne trade vessels, aiming at a CAGR of over %... Are investing in the Bunker fuel market is asking why it should bother going long.... when the future bleak! - December 31, 2020 - December 31, 2020 ) Asian Posted Contract Price Posted December 17,.... Quick return on investments us at editor @ shipandbunker.com use of high sulfur content fuel owing to the concern...