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Bunker Oil Market - Global Trend and Outlook to 2028

Bunker fuel is used by a variety of devices, including ship and aeroplane engines. Compared to other forms of gasoline on the market, bunker fuel is less expensive. Businesses prefer to use the least expensive fuel in order to maximise profit margins because the entirety of the cost of shipping goods is incurred by the cost of gasoline.

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Bunker Oil Market - Global Trend and Outlook to 2028

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  1. Bunker Oil Bunker Oil Market Current Scenario Market Current Scenario

  2. • Bunker oil refers to a type of fuel that is commonly used in maritime vessels such as ships and large boats. It is a dense and heavy fuel oil with high viscosity and is obtained from crude oil through a refining process. Bunker oil is primarily used as fuel for marine engines due to its high energy content. • Here are a few key points about bunker oil: • Grades and Types: Bunker oil is available in different grades and types, which are categorized based on their viscosity and sulfur content. The most common grades are IFO (Intermediate Fuel Oil) 180 and IFO 380, with the numbers representing the viscosity in centistokes at 50 degrees Celsius.

  3. Marine Fuel Regulations: Bunker oil is subject to various international regulations, particularly those set by the International Maritime Organization (IMO). The IMO has implemented sulfur regulations to reduce air pollution from ships. The global sulfur cap, known as IMO 2020, limits the sulfur content in bunker oil to 0.50% mass/mass (previously 3.50%), leading to the use of lower sulfur fuels or the installation of exhaust gas cleaning systems (scrubbers). Environmental Impact: Bunker oil, like other fossil fuels, has environmental implications. The combustion of bunker oil releases carbon dioxide (CO2), contributing to greenhouse gas emissions and climate change. Additionally, it can contain sulfur compounds and other pollutants that can cause air pollution and harm marine ecosystems if not properly treated or regulated.

  4. • Storage and Handling: Due to its high viscosity, bunker oil needs to be heated before it can be pumped and used as fuel. It is usually stored in dedicated tanks aboard ships. The handling and transportation of bunker oil require specialized equipment and safety precautions. • Price and Market: The price of bunker oil is influenced by various factors, including crude oil prices, refining costs, supply and demand dynamics, and geopolitical factors. Bunker oil prices can be subject to significant fluctuations, impacting shipping costs and the overall maritime industry. • It's worth noting that in recent years, there has been a growing focus on transitioning to cleaner and more sustainable fuels in the maritime sector. This shift includes the adoption of alternative fuels like liquefied natural gas (LNG), biofuels, and the exploration of new technologies such as hydrogen fuel cells and electric propulsion systems. These developments aim to reduce the environmental impact of bunker oil and promote a more sustainable shipping industry.

  5. Bunker Oil Bunker Oil Market Market By Regions By Regions • If opting for the Global version of Bunker Oil Market; then the below country analysis would be included: North America (the USA, Canada, and Mexico) Europe (Germany, France, the United Kingdom, Netherlands, Italy, Nordic Nations, Spain, Switzerland, and the Rest of Europe) Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, Southeast Asia, and the Rest of APAC) South America (Brazil, Argentina, Chile, Colombia, the Rest of the countries, etc.) The Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South Africa, Rest of MEA)

  6. • Bunker Oil Market Growth 2023-2029 is the latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities, and leveraging with strategic and tactical decision-making support, • https://www.htfmarketintelligence.com/research- store?section=8&q=Bunker+Oil

  7. • Contact Us : Craig Francis (PR & Marketing Manager) HTF Market Intelligence Consulting Private Limited Phone: +1 434 322 0091 sales@htfmarketintelligence.com Connect with us at LinkedIn | Facebook | Twitter

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