Bunker oil is referred as a fuel that is used in marine industries and shipping sector. It costs nearly about seventy percent of total shipping/travelling expenses for the vessel carrying it. So the ship operatives choose to purchase the bunker oil from the docks where the cost is less. Few of the operators choose to buy a significant part of the total fuel need for the expedition from a single dock that provides bunker fuel at a reasonable cost.
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Bunker oil firms like world fuel services and chemoil energy provide bunkering services in all the key docks across the globe. Top autonomous distributors with combined portfolios and fuel storage terminals in the main bunkering docks have an extra benefit over distributors running small business. Monetary strong and large bunker oil traders acquire large shares in big ports in comparison to small dealers. Rising demand for bunker oil from countries of Asia Pacific region such as Singapore, Malaysia and China are likely to grow their operations in main ports of these regions. Technological changes will also get more impetus due to increased capital investment in research and development.
Worldwide Bunker Oil Market is estimated to grow at a CAGR of four percent over the time cycle of 2014 to 2019. The key market players of the bunker oil market include Transocean oil, Bomin Bunker Holding, BP Singapore, Nestle Oil, Stena Oil, Apex Oil Company, Curoil and Baltic Fuel Company.
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The market section is classified into four geographical regions: Region of Asia Pacific, North American Sub Continent, Rest of the World and Zone of Europe.
The market research report consists of porter’s five force analysis, scenario analysis, environmental analysis, supply chain analysis, information about distribution (network) channels. It covers the competitor landscape and market growth projections in future. The bunker oil market research report also includes a discussion of the key dealers functioning in the bunker oil market.
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