Results for tag: "Bunker Fuel"

Bunker fuel is a type of fuel oil used in ships and other vessels. It is typically a residual fuel, derived from the refining of crude oil. Bunker fuel is used to power large ships, such as container ships, tankers, and cruise ships. It is also used in other marine applications, such as fishing vessels and tugboats. Bunker fuel is a key component of the global oil market, as it is used to power the majority of the world's shipping fleet. Bunker fuel is typically sold in two grades: marine gas oil (MGO) and marine diesel oil (MDO). MGO is a lighter fuel, while MDO is a heavier fuel. Bunker fuel is typically priced according to its sulfur content, with higher sulfur content fuels being cheaper than lower sulfur content fuels. The bunker fuel market is highly competitive, with a number of major oil companies and independent suppliers competing for market share. Major oil companies such as BP, Shell, and ExxonMobil are major players in the bunker fuel market. Other major suppliers include Total, Chevron, and PetroChina. Independent suppliers such as World Fuel Services, Bunker Holding, and Aegean Marine Petroleum Network are also active in the market. Show Less Read more