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Analyzing the Global Bunker Fuel Industry 2017

Analyzing the Global Bunker Fuel Industry 2017

Known commonly as fuel oil, bunker fuel is liquid fuel that is fractionally distilled from crude oil. Bunker fuel is highly viscous and also heavily contaminated with substances that cannot be removed. Therefore, when burnt, bunker fuel causes a lot of pollution. Worldwide, there are many regulations in place in order to check the pollution caused by bunker fuel.

Aruvian Research analyzes the global bunker fuel industry in its research report Analyzing the Global Bunker Fuel Industry 2017. The report analyzes the global energy industry first and then moves on to the global bunker fuel/fuel oil industry analysis. We look at the basics of bunker fuel, history of bunker fuel, classification, uses as well as fuel specifications. The supply chain of bunker fuel, particularly the major bunkering ports of Fujairah, Rotterdam and Singapore are looked at. Regulatory framework, transportation and environmental issues, and standards for bunker fuel are looked at in the report.

Moving on, we analyze the broader marine fuels market in terms of marine fuel grades, refining of marine fuels/petroleum products, types of marine fuels, etc.

The recent emergence of LNG as a bunker fuel option is also looked at, along with two case studies of using LPG as a marine fuel and using MSAR as a bunker fuel.

An analysis of the major industry players and a future perspective of the industry completes this analysis.


A. Executive Summary
B. Analyzing the Global Energy Industry
B.1 Industry Definition
B.2 Brief Profile of the Industry
B.3 Global Oil Market
B.4 Global Natural Gas
B.5 Other Fuels
B.5.1 Coal
B.5.2 Nuclear Power
B.5.3 Hydroelectric Power
B.5.4 Renewables
B.6 Impacts on the Industry
B.7 Challenges Facing the Industry
B.8 Future Perspective
C. Global Bunker Fuel/Fuel Oil Industry
C.1 What is Bunker Fuel?
C.2 History of Bunker Fuel
C.3 Classification of Fuel Oil
C.4 Uses of Fuel Oil
C.5 Fuel Specifications
C.6 Bunker Fuel Supply Chain
C.6.1 Fujairah
C.6.2 Rotterdam
C.6.3 Singapore
C.7 Regulatory Framework
C.8 Transportation & Environmental Issues
C.9 Stricter Standards for Bunker Fuel
D. Marine Fuels Industry
D.1 Overview
D.2 Marine Fuel Grades
D.3 Refining of Marine Fuels/Petroleum Products
D.4 Production Models of Refineries
D.5 Types of Marine Fuel
D.5.1 Marine Gas Oil (MGO)
D.5.2 Marine Distillate Oil (MDO)
D.5.3 Blending Stocks
D.5.4 Intermediate Fuel Oil (IFO)
E. LNG as Bunker Fuel
F. Case Study: Using LPG as a Marine Fuel
F.1 Introduction
F.2 Applications of LPG
F.3 LPG Production
F.4 LPG in Shipping & Bunkering
F.5 LPG in Medium Speed Engine Market
F.6 LPG in Low Speed Engine
F.7 Regulatory Framework
G. Case Study: Using Multiphase Superfine Atomized Residue (MSAR) as a Bunker Fuel
H. Global Bunker Fuel Industry: Future Perspective
I. Major Industry Players
I.1 Aegean Marine Petroleum Network Inc.
I.2 Alliance Oil Trading Pte Ltd
I.3 Apex Oil Company
I.4 BP Marine Ltd
I.5 Brasbunker Participacoes
I.6 Brightoil Petroleum Holdings Limited
I.7 Chemoil Energy Limited
I.8 Chevron Corporation
I.9 China Marine Bunker Petrochina Co Ltd
I.10 ConocoPhillips
I.11 Daelim Corporation
I.12 Exxon Mobil Corporation
I.13 Hellenic Petroleum S.A.
I.14 Houston Fuel Oil Terminal Company
I.15 Mitsubishi Corporation
I.16 OOO LUKOIL-Bunker
I.17 Peninsula Petroleum Limited
I.18 Petro Marine Services
I.19 Quadrise Fuels International Plc
I.20 Royal Dutch Shell Plc
I.21 Tesoro Corporation
I.22 Total SA
I.23 TransMontaigne, Inc
I.24 Warner Petroleum Corporation
I.25 Westport Petroleum Inc
I.26 Wilhelmsen Marine Fuels AS
I.27 World Fuel Services Corporation
List of Figures
Figure 1: Oil Reserves-to-Production Ratios, 2015
Figure 2: Distribution of Proved Oil Reserves, 1995, 2005, 2015 (in Percentage)
Figure 3: Oil Production by Region, 1990-2015
Figure 4: Oil Consumption by Region, 1990-2015
Figure 5: Natural Gas Reserves-to-Production Ratios, 2015
Figure 6: Distribution of Natural Gas Proved Reserves, 1995, 2005, 2015 (in Percentage)
Figure 7: Production of Natural Gas by Region, 1990-2015
Figure 8: Consumption of Natural Gas by Region, 1990-2015
Figure 9: Control over Production of Remaining Commercial Reserves of Natural Gas
Figure 10: Production of Coal by Region, 1990-2015
Figure 11: Consumption of Coal by Region, 1990-2015
Figure 12: Consumption of Nuclear Energy by Region, 1990-2015
Figure 13: Consumption of Hydroelectric Energy by Region, 1990-2015
Figure 14: Global Energy Consumption Forecast (2003-2030)
Figure 15: Global Energy Consumption Forecast by Fuel Type (1980-2030)
Figure 16: Port of Fujairah Bunker Prices, Last 3 Months of 2017
Figure 17: Port of Rotterdam Bunker Prices, Last 3 Months of 2017
Figure 18: Port of Singapore Bunker Prices, Last 3 Months of 2017
Figure 19: Global Emission Controlled Areas as of December 2016
Figure 20: Particulate Matter Pollution Overlaid on the World’s Major Shipping Routes
Figure 21: Change in Sulphur Content in Bunker Fuel (%), 2006-2030
Figure 22: MARPOL VI/14 - Sulphur Limits
Figure 23: MARPOL Annex VI Regulations and Enforcement of Sulphur Limits with Respective Timelines
Figure 24: Oil Tanker Taking on Bunker Fuel
Figure 25: Refining Process and Product Streams
Figure 26: Crude Oil Input to Refineries by Top 10 Countries (in Mt), 2000-2015
Figure 27: Spectrum of Crude Qualities
Figure 28: MARPOL Annex VI - SOx Reduction Alternatives including LNG
Figure 29: Forecast for Marine Fuel Prices
Figure 30: LNG Supply Cost versus Cost of Alternative Fuels
Figure 31: Global LNG Production versus LNG Bunker Demand 2012-2025
Figure 32: Global Bunker Consumption All Deep Sea Ship Types – LNG Bunker versus HFO, 2012-2025
Figure 33: LNG Bunker Price Forecasts (in USD per Ton), 2012-2025
Figure 34: Overview of MSAR
Figure 35: Properties of Emulsion Fuels
Figure 36: Historical Bunker Prices 380cSt
Figure 37: MSAR as a Solution in the Bunker Fuel Industry
List of Tables
Table 1: Fuel Oils
Table 2: Parameters of Marine Distillate Fuels
Table 3: Parameters of Marine Residual Fuels
Table 4: Specifications for Marine Distillate Fuels
Table 5: Specifications for Marine Residual Fuels
Table 6: Port of Fujairah Bunker Prices, March 14-28, 2017
Table 7: Port of Rotterdam Bunker Prices, March 14-28, 2017
Table 8: Port of Singapore Bunker Prices, March 14-28, 2017
Table 9: Current and Confirmed Emission Control Areas
Table 10: Three Main Options for Compliance and Corresponding Emission Reductions
Table 11: Primary Pollutants from the Combustion of Oil and their Major Potential Impacts
Table 12: Requirements for Marine Distillate Fuels
Table 13: Requirements for Marine Residual Fuels
Table 14: Types of Crude Oil Included in OPEC
Table 15: Production Yield from a Hydroskimming Refinery
Table 16: Production Yield from a Cracking Refinery
Table 17: Production Yield from Coking Refineries
Table 18: Types of Marine Fuel
Table 19: Air Emissions from LNG & Other Marine Fuels
Table 20: Characteristics of Butane Gas
Table 21: Characteristics of Propane Gas

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