Bunkerspot Survey 2021

20/21 vision

1. COVID-19 Impact: The pandemic disrupted global trade, shipping activity, and bunkering demand. Recovery is expected to be uneven, with advanced economies recovering faster than less-developed regions due to vaccine access and economic stability.
2. IMO 2020 Transition: The implementation of the 0.5% global sulphur cap was considered a success, with compliance rates higher than anticipated. However, challenges with fuel quality and enforcement in certain regions persist.
3. Decarbonisation: Efforts toward sustainable shipping gained momentum, focusing on zero-emission technologies like hydrogen, ammonia, and wind propulsion. The need for investment in greener solutions was emphasised.
4. Market Dynamics: Economic pressures led to consolidation within the bunkering industry, with larger players adapting more effectively to changing demands.
5. Digitalisation: The pandemic accelerated digitalisation in shipping and bunkering, particularly in areas like remote operations and virtual communications.
6. Future Fuels: LNG remains a viable transitional fuel, but concerns about its long-term environmental impact have increased interest in alternative energy sources.