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Caribbean Islands Bunker Fuel Market by Type (Residual Fuel Oil, Marine Diesel Oil (MDO), Marine Gas Oil (MGO)), Commercial Distributor (Oil Majors, Large Independent, and Small Independent) and End User (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessel, Gas Tanker, and Others) - Opportunity Analysis and Industry Forecast, 2017-2023

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EN_174511
Pages: 158
Nov 2017 | 2753 Views
 
Author's : Yash Doshi
Tables: 84
Charts: 21
 

Caribbean Islands Bunker Fuel Market Overview:

Bunker fuel refers to the heavy oil, which is used to power a ship. Distillate and residual are the two types of marine fuels, which are most widely used in the bunker fuel industry. Residual fuel oil is a heavy oil composed of distillation residue, and is considered as the most important byproduct after extraction of distillates. This oil is extracted during the refining process of crude oil. It consists of fuel mixture having non-boiling fractions. On the basis of distillation temperature, the fuel oils are categorized into different grades, namely, MGO, MDO, and other bunkers.

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The growth of the Caribbean islands bunker fuel market is driven by increase in marine-borne trade and IMO’s regulations of sulfur cap for marine fuels. In addition, availability of alternative sources for marine fuel is expected to supplement the market in the future. However, high investment cost involved in the development of bunker fuel infrastructure and old vessel replacement from wasteful to new fuel-efficient ships may impede the Caribbean islands bunker fuel market.

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The Caribbean islands bunker fuel market is segmented based on type, commercial distributor, end user, and geography. On the basis of type, the market is classified into residual fuel oil, MDO, and MGO. Residual fuel oil is further divided into IFO 180 and IFO 380. Depending on commercial distributor, the market is fragmented into oil majors, large independent, and small independent. By end user, it is categorized into container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessel, gas tanker, and others. Geographically, it is analyzed across St. Eustatius, Trinidad, Curacao, Jamaica, and rest of Caribbean islands.

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Key manufacturers operating in the market are Aegean Marine Petroleum Network Inc., Bomin Bunker Oil Corp., BP PLC, Bunker Holding A/S, Chemoil Energy Ltd., Exxon Mobil, Gazprom Neft PJSC, GAC Bunker Fuels Ltd., KPI Bridge Oil A/S, and Royal Dutch Shell PLC.

Key Benefits for Stakeholders

  • This report provides an extensive analysis of the current trends, emerging estimations, and dynamics in the Caribbean islands bunker fuel market.
  • In-depth analysis of the market is conducted and estimations for key segments between 2015 and 2023 are provided.
  • Factors that drive and restrain the growth of the market are provided.
  • Industry analysis is conducted by following the key product positioning and monitoring the top competitors within the market framework.
  • Key players are profiled and their strategies are analyzed thoroughly to provide a competitive outlook of the industry trends.

Caribbean Islands Bunker Fuel Market Key Segments:

By Type

  • Residual Fuel Oil
    • IFO 180
    • IFO 380
  • MDO
  • MGO

By Commercial Distributor

  • Oil Majors
  • Large Independent
  • Small Independent

By End User

  • Container
  • Bulk Carrier
  • Oil Tanker
  • General Cargo
  • Chemical Tanker
  • Fishing Vessels
  • Gas Tanker
  • Others

By Geography

  • St. Eustatius
  • Trinidad
  • Curacao
  • Jamaica
  • Rest of Caribbean Islands

Other Players

  • Adani Group
  • C-FUELS AMERICA LLC
  • PT. Doea Tiga Sinergi Indonesia
  • SYS Shipping & Bunkering Ltd.
  • Topoil AB
  • Totos Oil
  • Umorni Kosac D.O.O.
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. PORTER’S FIVE FORCES ANALYSIS

3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Competitive rivalry

3.4. MARKET DYNAMICS

3.4.1. Drivers

3.4.1.1. IMO’s regulations of sulfur cap for marine fuels
3.4.1.2. Increase in marine-borne trade

3.4.2. Restraints

3.4.2.1. High investment cost involved in development of bunker fuel infrastructure and regulatory framework
3.4.2.2. Old vessel replacement from wasteful to new fuel-efficient ships

3.4.3. Opportunity

3.4.3.1. Alternative sources for marine fuel

3.5. MARKET SHARE ANALYSIS/KEY PLAYER POSITIONING, 2016

Chapter: 4 CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY TYPE

4.1. INTRODUCTION

4.1.1. Market size and forecast

4.2. RESIDUAL FUEL OIL

4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast

4.2.2.1. By type

4.2.2.1.1. IFO 180
4.2.2.1.2. IFO 380

4.3. MARINE DIESEL OIL (MDO)

4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast

4.4. MARINE GAS OIL (MGO)

4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast

Chapter: 5 CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY COMMERCIAL DISTRIBUTOR

5.1. INTRODUCTION

5.1.1. Market size and forecast

5.2. OIL MAJORS

5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast

5.3. LARGE INDEPENDENT

5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast

5.4. SMALL INDEPENDENT

5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast

Chapter: 6 CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY END USER

6.1. INTRODUCTION

6.1.1. Market size and forecast

6.2. CONTAINER

6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast

6.3. BULK CARRIER

6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast

6.4. OIL TANKER

6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast

6.5. GENERAL CARGO

6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast

6.6. CHEMICAL TANKER

6.6.1. Key market trends, growth factors, and opportunities
6.6.2. Market size and forecast

6.7. FISHING VESSEL

6.7.1. Key market trends, growth factors, and opportunities
6.7.2. Market size and forecast

6.8. GAS TANKER

6.8.1. Key market trends, growth factors, and opportunities
6.8.2. Market size and forecast

6.9. OTHERS

6.9.1. Key market trends, growth factors, and opportunities
6.9.2. Market size and forecast

Chapter: 7 CARIBBEAN BUNKER FUEL MARKET, BY GEOGRAPHY

7.1. OVERVIEW

7.1.1. Market size and forecast

7.2. ST. EUSTATIUS

7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by type
7.2.3. Market size and forecast, by commercial distributor
7.2.4. Market size and forecast, by end user

7.3. TRINIDAD

7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by type
7.3.3. Market size and forecast, by commercial distributor
7.3.4. Market size and forecast, by end user

7.4. CURACAO

7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by type
7.4.3. Market size and forecast, by commercial distributor
7.4.4. Market size and forecast, by end user

7.5. JAMAICA

7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by type
7.5.3. Market size and forecast, by commercial distributor
7.5.4. Market size and forecast, by end user

7.6. REST OF CARIBBEAN ISLANDS

7.6.1. Key market trends, growth factors, and opportunities
7.6.2. Market size and forecast, by type
7.6.3. Market size and forecast, by commercial distributor
7.6.4. Market size and forecast, by end user

Chapter: 8 COMPANY PROFILES

8.1. BP PLC

8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Business performance
8.1.5. Key strategic moves and developments

8.2. ROYAL DUTCH SHELL PLC

8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Business performance
8.2.5. Key strategic moves and developments

8.3. EXXON MOBIL CORPORATION (EXXONMOBIL CHEMICAL COMPANY, INC.

8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Business performance
8.3.5. Key strategic moves and developments

8.4. AEGEAN MARINE PETROLEUM NETWORK INC.

8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Business performance

8.5. BOMIN BUNKER OIL CORP.

8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments

8.6. BUNKER HOLDING A/S

8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments

8.7. CHEMOIL ENERGY LTD.

8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments

8.8. GAZPROM NEFT PJSC

8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Business performance

8.9. GAC BUNKER FUELS LTD.

8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Key strategic moves and developments

8.10. KPI BRIDGE OIL A/S

8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments

LIST OF TABLES

TABLE 1. CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY TYPE, 2016-2023 (KILOTON)
TABLE 2. CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 3. CARIBBEAN ISLANDS RESIDUAL FUEL OIL MARKET, BY TYPE, 2016-2023 (KILOTON)
TABLE 4. CARIBBEAN ISLANDS RESIDUAL FUEL OIL MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 5. CARIBBEAN ISLANDS MDO MARKET, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 6. CARIBBEAN ISLANDS MDO MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 7. CARIBBEAN ISLANDS MGO MARKET, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 8. CARIBBEAN ISLANDS MGO MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 9. CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY COMMERCIAL DISTRIBUTOR, 2016-2023 (KILOTON)
TABLE 10. CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY COMMERCIAL DISTRIBUTOR, 2016-2023 ($MILLION)
TABLE 11. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR OIL MAJORS, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 12. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR OIL MAJORS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 13. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR LARGE INDEPENDENT DISTRIBUTORS, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 14. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR LARGE INDEPENDENT DISTRIBUTORS, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 15. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR SMALL INDEPENDENT DISTRIBUTORS, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 16. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR SMALL INDEPENDENT DISTRIBUTORS, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 17. CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY END USER, 2016-2023 (KILOTON)
TABLE 18. CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY END USER, 2016-2023 ($MILLION)
TABLE 19. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR CONTAINER, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 20. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR CONTAINER, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 21. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR BULK CARRIER, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 22. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR BULK CARRIER, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 23. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR OIL TANKER, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 24. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR OIL TANKER, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 25. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR GENERAL CARGO, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 26. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR GENERAL CARGO, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 27. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR CHEMICAL TANKER, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 28. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR CHEMICAL TANKER, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 29. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR FISHING VESSEL, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 30. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR FISHING VESSEL, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 31. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR GAS TANKER, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 32. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR GAS TANKER, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 33. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR OTHERS, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 34. CARIBBEAN ISLANDS BUNKER FUEL MARKET FOR OTHERS, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 35. CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY GEOGRAPHY, 2016-2023 (KILOTON)
TABLE 36. CARIBBEAN ISLANDS BUNKER FUEL MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 37. ST. EUSTATIUS BUNKER FUEL MARKET VOLUME, BY TYPE, 2016-2023 (KILOTON)
TABLE 38. ST. EUSTATIUS BUNKER FUEL MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 39. ST. EUSTATIUS BUNKER FUEL MARKET VOLUME, BY COMMERCIAL DISTRIBUTOR, 2016-2023 (KILOTON)
TABLE 40. ST. EUSTATIUS BUNKER FUEL MARKET REVENUE, BY COMMERCIAL DISTRIBUTOR, 2016-2023 ($MILLION)
TABLE 41. ST. EUSTATIUS BUNKER FUEL MARKET VOLUME, END USER, 2016-2023 (KILOTON)
TABLE 42. ST. EUSTATIUS BUNKER FUEL MARKET REVENUE, END USER, 2016-2023 ($MILLION)
TABLE 43. TRINIDAD BUNKER FUEL MARKET VOLUME, BY TYPE, 2016-2023 (KILOTON)
TABLE 44. TRINIDAD BUNKER FUEL MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 45. TRINIDAD BUNKER FUEL MARKET VOLUME, BY COMMERCIAL DISTRIBUTOR, 2016-2023 (KILOTON)
TABLE 46. TRINIDAD BUNKER FUEL MARKET REVENUE, BY COMMERCIAL DISTRIBUTOR, 2016-2023 ($MILLION)
TABLE 47. TRINIDAD BUNKER FUEL MARKET VOLUME, END USER, 2016-2023 (KILOTON)
TABLE 48. TRINIDAD BUNKER FUEL MARKET REVENUE, END USER, 2016-2023 ($MILLION)
TABLE 49. CURACAO BUNKER FUEL MARKET VOLUME, BY TYPE, 2016-2023 (KILOTON)
TABLE 50. CURACAO BUNKER FUEL MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 51. CURACAO BUNKER FUEL MARKET VOLUME, BY COMMERCIAL DISTRIBUTOR, 2016-2023 (KILOTON)
TABLE 52. CURACAO BUNKER FUEL MARKET REVENUE, BY COMMERCIAL DISTRIBUTOR, 2016-2023 ($MILLION)
TABLE 53. CURACAO BUNKER FUEL MARKET VOLUME, END USER, 2016-2023 (KILOTON)
TABLE 54. CURACAO BUNKER FUEL MARKET REVENUE, END USER, 2016-2023 ($MILLION)
TABLE 55. JAMAICA BUNKER FUEL MARKET VOLUME, BY TYPE, 2016-2023 (KILOTON)
TABLE 56. JAMAICA BUNKER FUEL MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 57. JAMAICA BUNKER FUEL MARKET VOLUME, BY COMMERCIAL DISTRIBUTOR, 2016-2023 (KILOTON)
TABLE 58. JAMAICA BUNKER FUEL MARKET REVENUE, BY COMMERCIAL DISTRIBUTOR, 2016-2023 ($MILLION)
TABLE 59. JAMAICA BUNKER FUEL MARKET VOLUME, END USER, 2016-2023 (KILOTON)
TABLE 60. JAMAICA BUNKER FUEL MARKET REVENUE, END USER, 2016-2023 ($MILLION)
TABLE 61. REST OF CARIBBEAN ISLANDS BUNKER FUEL MARKET VOLUME, BY TYPE, 2016-2023 (KILOTON)
TABLE 62. REST OF CARIBBEAN ISLANDS BUNKER FUEL MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 63. REST OF CARIBBEAN ISLANDS BUNKER FUEL MARKET VOLUME, BY COMMERCIAL DISTRIBUTOR, 2016-2023 (KILOTON)
TABLE 64. REST OF CARIBBEAN ISLANDS BUNKER FUEL MARKET REVENUE, BY COMMERCIAL DISTRIBUTOR, 2016-2023 ($MILLION)
TABLE 65. REST OF CARIBBEAN ISLANDS BUNKER FUEL MARKET VOLUME, END USER, 2016-2023 (KILOTON)
TABLE 66. REST OF CARIBBEAN ISLANDS BUNKER FUEL MARKET VOLUME, END USER, 2016-2023 ($MILLION)
TABLE 67. BP: COMPANY SNAPSHOT
TABLE 68. BP: OPERATING SEGMENTS
TABLE 69. SHELL: COMPANY SNAPSHOT
TABLE 70. SHELL: OPERATING SEGMENTS
TABLE 71. EXXON: COMPANY SNAPSHOT
TABLE 72. EXXONMOBIL CHEMICAL COMPANY, INC.: OPERATING SEGMENTS
TABLE 73. AEGEAN: COMPANY SNAPSHOT
TABLE 74. AEGEAN: OPERATING SEGMENTS
TABLE 75. BOMIN: COMPANY SNAPSHOT
TABLE 76. BUNKER: COMPANY SNAPSHOT
TABLE 77. CHEMOIL: COMPANY SNAPSHOT
TABLE 78. CHEMOIL: OPERATING SEGMENTS
TABLE 79. GAZPROM: COMPANY SNAPSHOT
TABLE 80. GAZPROM: OPERATING SEGMENTS
TABLE 81. GAC: COMPANY SNAPSHOT
TABLE 82. GAC: OPERATING SEGMENTS
TABLE 83. KPI: COMPANY SNAPSHOT
TABLE 84. KPI: OPERATING SEGMENTS

LIST OF FIGURES

FIGURE 1. MARKET SNAPSHOT
FIGURE 2. TOP INVESTMENT POCKETS, 2016-2023
FIGURE 3. TOP WINNING STRATEGIES: PERCENTAGE DISTRIBUTION (2014-2016)
FIGURE 4. COMPANIES AND THEIR STRATEGIES: BUNKER FUEL MARKET
FIGURE 5. HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 6. MODERATE BARGAINING POWER OF BUYERS
FIGURE 7. HIGH THREAT OF SUBSTITUTES
FIGURE 8. LOW THREAT OF NEW ENTRANTS
FIGURE 9. MODERATE COMPETITIVE RIVALRY
FIGURE 10. GROWTH IN MARINE TRADE VESSELS, 1980-2009 (MILLION TON)
FIGURE 11. CARIBBEAN ISLANDS ENERGY DEMAND BASED ON FUEL TYPE AND USAGE
FIGURE 12. KEY PLAYER POSITIONING, 2016
FIGURE 13. BP: REVENUE, 2014-2016 ($MILLION)
FIGURE 14. SHELL: REVENUE, 2014-2016 ($MILLION)
FIGURE 15. SHELL: REVENUE SHARE BY SEGMENT, 2016 ($MILLION)
FIGURE 16. SHELL: REVENUE SHARE BY GEOGRAPHY, 2016 ($MILLION)
FIGURE 17. EXXONMOBIL: REVENUE, 2013-2015 ($MILLION)
FIGURE 18. EXXONMOBIL: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 19. AEGEAN: REVENUE, 2014-2016 ($MILLION)
FIGURE 20. GAZPROM: REVENUE, 2014-2016 ($MILLION)
FIGURE 21. GAZPROM: REVENUE SHARE BY SEGMENT, 2016 ($MILLION)

 

Container shipping is gaining immense popularity and is witnessing high demand. Jamaica’s shipping line of customer mix depends on three key container carriers, namely, CMA CGM, MSC, and ZIM. Vessel calls and shipping traffic are major concerns in bunkering. The total vessel calls by the port of call in Jamaica had reached 3,300 by end of 2012. Kingston Container Terminal alone contributed around 40% of total visits, thereby making it the most visited facility.

Increase in demand for natural gas is expected to drive the growth of the bunker fuel operation across the Caribbean region to fuel gas production and boost economy. It is anticipated to create more employment opportunities in bunker fuel operations and related activities. The generation of direct and indirect employment in a bunker fuel extraction project is expected to enhance the economic stability of the Caribbean region. In addition, chemical tanker is a cargo tanker that transports chemicals in various forms from one port to another. These tankers are specifically designed to maintain the consistency of chemicals that they carry. Moreover, they are applied with extensive coatings of certain substances leading to easy identification of chemicals that are shipped, thereby driving the growth of the Caribbean Islands banker fuel market.

 

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