Bunkerspot Survey 2019

The bigger picture

1. Global Growth Concerns: Participants agreed on a slowdown in global growth due to factors such as US-China trade tensions, rising interest rates, and economic difficulties in China and Europe. These developments are expected to affect shipping demand, trade volumes, and bunker fuel consumption.
2. IMO 2020 Impact: The transition to the 0.5% global sulphur cap is expected to increase compliance costs for shipowners and alter fuel demand significantly. Scrubber installations and fuel supply adjustments remain areas of uncertainty.
3. Regional Variations: North America and Asia-Pacific continue to be key regions for bunker demand, though slowing economies and regional political issues pose challenges. In Europe, Brexit adds to the uncertainty, while Africa shows potential for growth due to offshore activities.
4. Economic Pressures: Higher interest rates and stricter credit environments are expected to put smaller bunker players under pressure, while established firms may benefit from market consolidation.
5. Oil Prices: Speculation around oil price trends suggests slight increases due to IMO 2020, but potential decreases if global economic activity slows.