Tighter carbon rules, slower economy to erode bunker demand growth, IEA says

Share via:


LONDON: Stricter environmental regulations and slower global economic growth will soften marine fuel demand in the coming years, the International Energy Agency said in its annual report on Tuesday.

Marine fuel sales jumped last year due to Red Sea disruptions that made shipping companies take longer routes.

But demand for those fuels, also called bunkers, could flatline at around 5 million barrels per day (bpd) in 2024-2030, because of weak underlying shipping growth and rising costs from tougher maritime environmental standards, the IEA said.

Last…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Tighter carbon rules, slower economy to erode bunker demand growth, IEA says


LONDON: Stricter environmental regulations and slower global economic growth will soften marine fuel demand in the coming years, the International Energy Agency said in its annual report on Tuesday.

Marine fuel sales jumped last year due to Red Sea disruptions that made shipping companies take longer routes.

But demand for those fuels, also called bunkers, could flatline at around 5 million barrels per day (bpd) in 2024-2030, because of weak underlying shipping growth and rising costs from tougher maritime environmental standards, the IEA said.

Last…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

JD.com Enters Stablecoin Race Amid US GENIUS Act Push

Chinese e-commerce giant JD.com is stepping into the...

Pope Leo makes AI’s threat to humanity a signature...

Pope Leo XIV is making the threat of...

IMTS Graduate Achieves Record-Breaking £42,000 International Placement in AI...

New Delhi , June 18:  The Institute of Management...

Popular

Upcoming Events

bbbb bbbb bbbb bbbb bbbb bbbb bbbb bbbb bbbb bbbb bbbb bbbb bbbb bbbb