Lewes, DE -- (SBWIRE) -- 05/15/2015 -- Report forecast the global bunker oil market to grow at a CAGR of 4.0 percent over the period 2014-2019.

Bunker oil refers to the fuel that is utilized by the shipping and marine industries. Bunker fuel expenditure account for approximately 65-70% of the total trip expenses for a vessel, and ship operatives prefer buying bunker fuel from ports where the price is lower. Some operators prefer purchasing a major portion of the total fuel requirement for the voyage from a single port that offers bunker fuel at an economical price. However, this is not an industry wide situation as operators may spread their total fuel procurement over numerous ports.

The report covers the segmentation of the global bunker oil market based on fuel type and geography.

According to the report, vendors have increased their focus on implementing digital oilfields, whose communication infrastructure is more robust and reliable than that of existing oilfields. These oilfields mainly comprise modern technologies for communication combined with automation, IT, and instrumentation and control. They are also highly efficient compared to existing oilfield platforms, as they provide real-time data that helps adapt the production process depending on availability. They are fully equipped with hi-tech communication devices with efficient data management software, providing precise and reliable information. Wider implementation of these oilfields will ultimately propel overall market growth.

Further, the report states that the ROI in this market has been unpredictable, which has affected overall investment in bunker oil projects.

Global Bunker Oil Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. It also includes a discussion of the key vendors operating in this market.

key players in Global Bunker Oil Market 2015-2019: Bomin Bunker Holding, Chemoil International, KPI Bridge Oil London, Sentek Marine & Trading and Transocean Oil

Other Prominent Vendors in the market are: Apex Oil Company, Baltic Fuel Company, BP Singapore, Curoil, Hin Leong Trading, Lukoil-Bunker, Neste Oil, Riverlake Group and Stena Oil

Market Driver
- Growing LNG Market
- For a full, detailed list, view our report

Market Challenge
- Unstable Global Economic Conditions
- For a full, detailed list, view our report

Market Trend
- Increased Investment by Vendors
- For a full, detailed list, view our report

Key Questions Answered in this Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 57 pages and 24 Exhibits "Global Bunker Oil Market 2015-2019" report covers Executive Summary, List of Abbreviations, Scope of the Report, Market Research Methodology, Introduction, Market Landscape, Market Segmentation by Fuel Type, Geographical Segmentation, Key Leading Countries, Buying Criteria, Market Growth Drivers, Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and their Impact, Vendor Landscape, Key Vendor Analysis.

For further information on this report, please visit- http://www.marketresearchreports.com/technavio/global-bunker-oil-market-2015-2019

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