Singapore Bunker Fuel Market Size, Status, Demand and Precise Outlook 2021- Petrochina International, Sentek Marine & Trading Pte Ltd, Ocean Bunkering Services

The Singapore Bunker Fuel Market report provides the overall structure and business outlook of the Singapore and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and regional growth of the leading competitors operating in the market on a Singapore and local scale. The structured analysis contains graphical as well as a diagrammatic representation of the Singapore Bunker Fuel Market with its specific geographical regions.

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“The Singapore bunker fuel market is expected to grow at a CAGR of more than 14% during 2020 - 2025.”

Top leading Companies Profiled in Bunker Fuel Market Report are Petrochina International, Sentek Marine & Trading Pte Ltd, Ocean Bunkering Services, Equatorial Marine Fuel Management Services, Shell Eastern Trading (Pte) Ltd, Total Marine Fuels Pte Ltd.

Latest Update and Developments

October 25, 2021 S&P Global Platts Launches First Global Suite Of Methanol Bunker Fuel Price Assessments- S&P Global Platts ("Platts"), the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, today announced the launch of two new daily methanol bunker fuel price assessments reflecting the value of methanol delivered to ships for marine fuel at the ports of Singapore and Houston, effective.

Platts launches Mumbai bunker fuel assessments- Bunker fuel sales are bound to rise, and with it, the need for a strong domestic pricing benchmark.

Market Overview

The bunker fuel market in the country is mainly driven by the ever-rising marine transportation of essential commodities, implementation of the stricter environmental regulations driving the demand for cleaner bunker fuels, and the increase in the use of support vessels for offshore oil and gas developments. However, the outbreak of the COVID-19 leading to the global economic slowdown and drop in maritime imports and exports are likely to restrain the growth of the Singapore bunker fuel market in the coming years.

The Very Low Sulfur Fuel Oil (VLSFO) is expected to witness significant growth in the market during the forecast period, owing to factors like the IMO 2020 Regulations that came into effect from January 1st, 2020.

- Developing sea trade routes and rising international maritime trade may offer tremendous opportunities for marine fuel suppliers in the region.

- Singapore is likely to witness a surge in the bunker fuel market owing to IMO 2020 Regulations and recovery in maritime trade. According to the Maritime and Port Authority, Singapores bunker fuel sales rose 7.51% and reached 4.51 million mt in January 2020. In March 2020, total sales came to 4.33 million mt due to shock in the bunker industry as Singapore witness some of the massive impact of COVID-19 on shipping.

- Moreover, crude prices also collapsed, which promote many shipowners to buy more bunker fuel for storage purposes. Also, the demand for marine gasoline increase as some shipowners were buying marine gasoline because there were no barge avails for low sulfur fuel oil because of high demand.

Segment by Type, the Bunker Fuel market is segmented into
Distillate Fuel Oil
Residual Fuel Oil
LNG

Segment by Application, the Bunker Fuel market is segmented into
Tanker Vessels
Container Vessels
Bulk Vessels
General Cargo Vessels
Other

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Regional Analysis:

Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), North America (United States, Canada, and Mexico), Central & South America (Brazil, and Rest of South America), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other)

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Key Takeaways from Bunker Fuel Report

─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals

─Understand the different dynamics influencing the Bunker Fuel market – key driving factors, challenges and hidden opportunities.

─Get in-depth insights on your competitor performance – Bunker Fuel market shares, strategies, financial benchmarking, product benchmarking, SWOT and more

─Analyze the sales and distribution channels across key geographies to improve top-line revenues.

─Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

─Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries Singaporely for the Bunker Fuel

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In conclusion, the Bunker Fuel market report present the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function as a profitable guide for all the Bunker Fuel Industry business competitors. Our expert research analyst’s team has been trained to provide in-depth market research reports from every individual sector which will be helpful to understand the industry data in the most precise way.

Available Customization– The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.

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