Market Intelligence
Wood Mackenzie Forecasts Structural Decline in Conventional Bunker Demand
Demand for traditional marine fuel oil is entering a structural downturn as liquefied natural gas displaces oil-based bunkers, according to Wood Mackenzie.
Conventional oil bunkering demand has entered a structural decline, with liquefied natural gas expected to replace over 400,000 barrels per day of oil bunker demand by 2030. This outlook was outlined by Matthew Wheatley, director of maritime trading data and analytics research at Wood Mackenzie.
Speaking at the ARACON conference in Rotterdam, Wheatley stated that LNG is poised to become the primary driver of incremental marine fuel demand. He identified the alternative fuel as the most prominent near-term growth narrative in shipping's broader energy transition.
The ongoing shift is supported by existing supply chains across key maritime centres. Infrastructure is already operational in hubs such as Rotterdam, Singapore, and China, while major bunkering locations continue to expand their capacity.
Source attribution
‘Conventional oil bunkering demand now entering structural decline’ – Wood MackenzieGlobal Freight Briefing
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