Singapore Bunker Fuel Market - PowerPoint PPT Presentation

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Singapore Bunker Fuel Market

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Bunker fuel is a type of fuel oil that is used abroad/marine vessels. It is poured into ship’s bunkers to power its engines. Bunker fuel gets its name from tanks on ports and in ships that it is stored in. Previously, they were known as coal bunkers, but now they are called as bunker fuel tanks. Bunker fuels are used to power their motors, engine, drive, and other equipment in the marine vessels. With the implementation of IMO-2020 regulations on sulfur content in the marine fuel from January 2020, there is increase in attention toward utilization of low sulfur fuel oil from key players operating in this market. However, heavy fuel oil or high sulfur fuel oil can be used on the ships where scrubbers are installed. – PowerPoint PPT presentation

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Updated: 18 July 2023
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Title: Singapore Bunker Fuel Market


1
Opportunity Analysis and Industry Forecast,
2016-20231
Singapore Bunker Fuel Market by Type,
Commercial Distributor, and Application
Opportunity Analysis and Industry Forecast,
2021-2030
Pages 180 Tables 55 Charts 76
2
  • Top Impacting Factors
  • The Singapore bunker fuel market size was valued
    at 17.6 billion in 2020, and is projected to
    reach 24.5 billion by 2030, growing at a CAGR of
    3.5 from 2021 to 2030.
  • Bunker fuel is a type of fuel oil that is used
    abroad/marine vessels.
  • Bunker fuel is poured into ships bunkers to
    power its engines.
  • Bunker fuel gets its name from tanks on ports and
    in ships that it is stored in.
  • Bunker fuels are used to power their motors,
    engine, drive, and other equipment in the marine
    vessels.

Global Singapore Bunker Fuel Market Outlook
(2021 2030)
Pages 180 Tables 55 Charts 76
3
  • Rise in offshore exploration production (EP)
    activity and increase in seaborne trade across
    the Asia-Pacific region are the factors that
    drive the growth of the Singapore bunker fuel
    market during the forecast period.
  • Increase in utilization of LNG as a marine fuel
    is anticipated to fuel the growth of the
    Singapore bunker fuel market from 2021 to 2030.
  • The developments adopted by oil majors in the
    bunker fuel industry such as product launch,
    agreement, and others are further anticipated to
    drive the growth of the market during the
    analyzed timeframe.

Global Singapore Bunker Fuel Market Outlook (2021
2030)
Pages 180 Tables 55 Charts 76
4
  • Key Findings of The Singapore Bunker Fuel Market
  • In 2020, the low sulfur fuel oil segment
    accounted for majority of the market share of the
    Singapore bunker fuel market, and is expected to
    maintain its lead during the forecast period.
  • In 2020, the oil majors segment accounted for
    around 40.63 of the share in the Singapore
    bunker fuel market, and is expected to maintain
    its dominance till the end of the forecast
    period.
  • In 2020, the large independent distributor
    segment is accounted for 34.47 market share in
    2020, and is anticipated to grow at a rate of
    3.9 in terms of revenue, increasing its share in
    the Singapore bunker fuel market.

Global Singapore Bunker Fuel Market Outlook
(2021 2030)
Pages 180 Tables 55 Charts 76
5
  • The key players profiled in the report include
  • TOTAL ENERGIES
  • BP P.L.C
  • ROYAL DUTCH SHELL PLC
  • Vitol Marine Fuels Pte. Ltd. (Parent Vitol
    Group)
  • Glencore Singapore Pte. Ltd. (Parent Glencore
    International AG)
  • EXXON MOBIL CORPORATION
  • SENTEK MARINE TRADING PTE LTD
  • EQUATORIAL MARINE FUEL MANAGEMENT SERVICES PTE
    LTD
  • SK Energy International Pte. Ltd. (Parent SK
    INNOVATION, CO. LTD.)
  • PetroChina International (Singapore) Pte. Ltd.
    (Parent PetroChina Company Limited)

Global Singapore Bunker Fuel Market Outlook
(2021 2030)
Pages 180 Tables 55 Charts 76
6
Global Singapore Bunker Fuel Market Outlook
(2021 2030)
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