LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global bunker oil market report. This research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
“Much of bunker oil business takes place through the four major ports — Singapore, Rotterdam, Fujairah, and Houston. Singapore is the largest port globally regarding capacity, which is 42 million tons. As the major trade happens through APAC, Singapore port witnesses the highest bunker oil sales”
With an anticipated improvement in global economic outlook and the related increase in individual disposable incomes, world mercantile trade is expected to surge again. Many shipping industry players have forecasted this move, and despite the 2015 economic downturn, the long-term outlook is projected to be positive. Owing to the larger volumes of goods to be transported, it is expected that there will be an increase in the overall fleet size as well as the carrying capacities of individual vessels. In either of these scenarios, the outlook for the bunker oil market is promising.
Competitive vendor landscape
The global bunker oil market is a diversified market and is very well distributed around the globe. Globally, there are around 400 ports that offer bunker oil fuel services across the world. The price of crude oil has been falling for the past two years now and has impacted global bunker oil prices. Bunker oil prices have also gone down because of the low oil prices. However, shipping companies have not been able to take full advantage of this situation as they only have limited storage facilities.
“Much of bunker oil business takes place through the four major ports — Singapore, Rotterdam, Fujairah, and Houston. Singapore is the largest port globally regarding capacity, which is 42 million tons. As the major trade happens through APAC, Singapore port witnesses the highest bunker oil sales,” says Thanikachalam Chandrasekaran, a lead oil and gas analyst from Technavio.
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Top five bunker oil market vendors
BP Singapore is a subsidiary of BP. The main business areas covered by BP Singapore is the entire eastern hemisphere covering the Middle East, Southern and Eastern Africa, Australia, India, Southeast Asia and China. The activates carried out by the Singapore arm of BP includes oil, gas, chemicals, carbon, and financial trading. Singapore is also the regional head of BP for its shipping, consumer, and industry lubricants, marine fuel and lubricants, and aviation fuels.
Chemoil Energy is a leading provider of retail energy for the land, sea, and air sectors. It has a wide range of international clients. The company has an extensive, worldwide network in supplying, trading, operations, and risk management. It provides optimizing services in fuel procurement and helps in developing strategic solutions.
Sentek Marine & Trading
Sentek Marine & Trading is a leading Singapore-based bunkering fuel service provider. The main business activity of Sentek Marine & Trading is trading and supplying marine fuel. Sentek Marine & Trading is mainly engaged in two main type of business activities, namely marine fuels and shipbuilding and repair. In the marine fuel segment, it offers different types of fuel grades such as MFO 380, MFO 180, MGO DMA, and MGO DMA low sulfur.
Transocean Oil is an independent bunker fuel supplier and trader. It is also attempting to get involved in new offshore trading activities, global procurement, and physical trading around the world.
Total Marine Fuels
Total Marine Fuels is a complete energy sector company, having a presence in the upstream sector, which includes hydrocarbon exploration, development, and production as well as in the downstream sector, including refining, petrochemicals, specialty chemicals, trading, shipping of crude oil and petroleum products, and marketing. Total Marine Fuels also operates in the renewable energy and power generation sectors.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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