Increasing global seaborne trade volume is the major driver of the marine fuel market. According to the International Chamber of Shipping, over 90% of the world’s shipped goods travel by marine cargo vessels. Seaborne trade is continuously expanding with adding benefits for consumers through competitive freight costs. The trade expansion in the marine sector has significant implications in marine fuel demand. Additionally, a few interventions introduced by IMO will have an impact on future oil demand as well as fuel shifts across the global marine industry. Therefore, the maritime sector will continue with its unique characteristics of oil demand and consumption trends. This project is designed to explore the insights of those characteristics and energy decisions in the maritime sector for different regions of the world.
Ahm Mehbub Anwar