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Global Bunker Fuel Market Report and Forecast 2020-2025

Global Bunker Fuel Market Report and Forecast 2020-2025

Submitted by • October 19, 2020

The global bunker fuel market was valued at $137,215.5 million in 2017 and is expected to reach $273,050.4 million by 2025, registering a CAGR of 9.4% from 2018 to 2025. Bunker fuel is the fuel oil delivered to ships of all states that are engaged in international navigation. The international navigation may take place via sea, on inland lakes & waterways, and in coastal waters. The two major bunker fuel classifications in the marine industry are distillates and residual fuel oils. Marine distillates are divided into marine gas oil (MGO) and marine diesel oil (MDO). MGO is used in small and highly rated diesel engines, which are prominently found in many types of ships. Residual fuel oil, also known as heavy fuel oil (HFO), is the highest viscosity fuel oil.

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Voted by stevenluke007

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