About Bunker fuel Market
Bunker fuel is an umbrella term used for all fuels used in ships' bunkers to power their engines. Typically, residual fuels (leftovers of the extraction of light hydrocarbons, such as gasoline or diesel, from crude oil) are used as bunker fuel for deep-sea cargo ships. They are mixed with light fuels, such as diesel, to make them cost-effective. The spend momentum of this market will be attributed to the wide adoption of residual fuel oil as it is cheaper alternative to other fuel types, namely MGO, and is used by shipping companies in their transport vessels.
Covered in this report
The report provides actionable insights to improve source-to-contract cycle performance in the Global Bunker Fuel Market. It helps sourcing professionals formulate better category strategies, enhance savings, understand supplier and market challenges, and implement sourcing best practices.
The report, Global Bunker Fuel Market, provides up-to-date information about market shifts and potential risks, as well as in-depth knowledge of products and services, which can help in planning and in executing category management activities. It focuses on the cost-saving aspects of procurement and on providing insights that can lead to optimization of category spend.
Category driver
Category management strategy
Procurement best practices
Key questions answered in this report
You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.
Bunker fuel is an umbrella term used for all fuels used in ships' bunkers to power their engines. Typically, residual fuels (leftovers of the extraction of light hydrocarbons, such as gasoline or diesel, from crude oil) are used as bunker fuel for deep-sea cargo ships. They are mixed with light fuels, such as diesel, to make them cost-effective. The spend momentum of this market will be attributed to the wide adoption of residual fuel oil as it is cheaper alternative to other fuel types, namely MGO, and is used by shipping companies in their transport vessels.
Covered in this report
The report provides actionable insights to improve source-to-contract cycle performance in the Global Bunker Fuel Market. It helps sourcing professionals formulate better category strategies, enhance savings, understand supplier and market challenges, and implement sourcing best practices.
The report, Global Bunker Fuel Market, provides up-to-date information about market shifts and potential risks, as well as in-depth knowledge of products and services, which can help in planning and in executing category management activities. It focuses on the cost-saving aspects of procurement and on providing insights that can lead to optimization of category spend.
Category driver
- High demand in segments such as bulk carriers and general cargo vessels
Category management strategy
- Engage with suppliers who adopt stringent quality control measures in their storage and shipping process
Procurement best practices
- Automate majority of the procurement process
Key questions answered in this report
- What are the market dynamics?
- What are the key market trends?
- What are the category growth drivers?
- What are the constraints on category growth?
- Who are the suppliers in this market?
- What are the demand-supply shifts?
- What are the major category requirements?
- What are the procurement best practices in this market?
You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.
Table of Contents
PART 01: EXECUTIVE SUMMARY
PART 02: MARKET INSIGHTS
PART 03: CATEGORY PRICING INSIGHTS
PART 04: COST-SAVING OPPORTUNITIES
PART 05: BEST PRACTICES
PART 06: CATEGORY ECOSYSTEM
PART 07: CATEGORY MANAGEMENT STRATEGY
PART 08: CATEGORY MANAGEMENT ENABLERS
PART 09: SUPPLIERS SELECTION
PART 10: SUPPLIERS UNDER COVERAGE
PART 11: US MARKET INSIGHTS
PART 12: CATEGORY DEFINITION
PART 13: APPENDIX
Executive Summary
The following companies as the key suppliers in the Global Bunker Fuel Category - Procurement Market Intelligence Report: Exxon Mobil Corp, Royal Dutch Shell Plc, TOTAL SA, PJSC Gazprom Neft, PJSC LUKOIL, Valero Energy Corp.Commenting on the report, an analyst from the research team said: “One of the procurement best practices for buyers is to engage in long-term contracts with suppliers to avail discounts on prices for per unit volume and value-added services.”
According to the report, one of the key growth contributors for the global bunker fuel market is the rising demand for residual fuel oil.
Further, the report states that one of the key category management strategies for the buyers in the global bunker fuel market is to engage with suppliers to develop risk management strategies for procuring bunker fuel.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains actionable insights to improve source-to-contract cycle performance in addition to a PESTLE analysis.
Companies Mentioned
- Exxon Mobil Corp
- Royal Dutch Shell Plc
- TOTAL SA
- PJSC Gazprom Neft
- PJSC LUKOIL
- Valero Energy Corp.
Methodology
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