Report: Bunker Fuels Market to Grow 4% Every Year Through 2019

by Ship & Bunker News Team
Thursday May 14, 2015

The global bunker fuel market is expected to grow at a compounded annual growth rate (CAGR) of 4 percent per year between 2014 and 2019, according to recent report by technology research and advisory company TechNavio

According to the report, investment from vendors in the market is expected to grow, with some key vendors being Bomin Bunker Holding and Chemoil International

"Bunker fuel expenditure account for approximately 65-70% of the total trip expenses for a vessel," the research firm noted.

Late last year, Transparency Market Research also released a report on future bunker markets, predicting that the global bunker market would reach 460 million tonnes by 2020.