DUBLIN, Jan 13, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Bunker Oil Market 2017-2021" report to their offering.

The global bunker oil market to grow at a CAGR of 3.36% during the period 2017-2021.

The report covers the present scenario and the growth prospects of the global bunker oil market for 2017-2021. To calculate the market size, the report considers the revenues that are generated from the sale of the bunker oil products in the oil and gas downstream market. The report also includes a a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is shift in focus from EU to APAC. For the past three hundred years, Europe was the epicenter of most global trade. Being at the center of global power for centuries, the major trade in European countries was importing raw materials from their colonies to feed the industrial revolution powered facilities. The EU, with its highly-advanced economies, is still an important hub for global trade. However, its dominance is steadily shifting away to Asia.

According to the report, one of the major drivers for this market is growing LNG market. The demand for LNG, a marine fuel, is increasing significantly. Being odorless, non-toxic, and non-corrosive, it is used to reduce emissions of greenhouse gases (GHG). It also evaporates quickly when exposed to air, leaving no residue behind.

Further, the report states that one of the major factors hindering the growth of this market is stringent MARPOL regulations. The shipping industry must comply with the new sulfur limits in sulfur emission control areas (SECAs) from January 1, 2015. This means that ships, which are doing trade in the ECAs must use marine fuel with a sulfur content of not more than 0.10%. The main reason for these new regulations is the safety of ships, crew, and the marine environment.

Key Vendors:

• BP Singapore
• Chemoil Energy
• Sentek Marine & Trading
• Transocean Oil
• Total Marine Fuels
  

Other Prominent Vendors:

• Aegean Marine Petroleum Network
• Consort Bunkers
• EQUATORIAL Marine Fuel Management Services
• ExxonMobil
• Global Energy Trading
• Golden Island Diesel Oil Trading
• Panoil Petroleum
• Searights Maritime Services
• Seven Seas Oil Trading
• Shell Eastern Trading
• Singapore Petroleum Company
• SK Energy International
• Universal Energy
• Vermont UM Bunkering
• Wired Bunkering

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by product type

Part 07: Market segmentation by Geography

Part 08: Market segmentation by end-user

Part 09: Market drivers

Part 10: Impact of drivers

Part 11: Market challenges

Part 12: Impact of drivers and challenges

Part 13: Market trends

Part 14: Vendor landscape

Part 15: Key vendor analysis

Part 16: Appendix

Part 17: Extras

For more information about this report visit http://www.researchandmarkets.com/research/svk2lk/global_bunker_oil

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Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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SOURCE Research and Markets