Bunker oil Overview Transcript
Bunker oil includes bunker fuel oil and bunker gasoil. Over 85% of bunker oil consumption is bunker fuel oil. Fuel oil is also called heavy oil and comes from the refinery CDU or FCC units. It can also be a mixture of oil and other chemicals
Fuel oil is used in bunkering, power plants, glass industry and chemical fibre plants. It is also used as feedstock for deeper refining.
Gasoil is a light distillate mostly used for cars and industrial plants and a small part is used in China’s bunker market.
China is one of the biggest fuel oil consumers and importers of fuel oil in the global market but the volume is reducing due to demand slumps.
China’s bunker fuel oil market is though a booming market and this is due to steadily importing cargo exporting and importing and a gradually opening market.
The market is set to increase by 20% yearly in the next five years.
The internal trade bunker market is a stable, growing market also set to rise.