LONDON: Stricter environmental regulations and slower global economic growth will soften ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#SME#href” href=”https://economictimes.indiatimes.com/topic/marine-fuel” target=”_blank”>marine fuel demand in the coming years, the ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#SME#href” href=”https://economictimes.indiatimes.com/topic/international-energy-agency” target=”_blank”>International Energy Agency said in its annual report on Tuesday.
Marine fuel sales jumped last year due to ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#SME#href” href=”https://economictimes.indiatimes.com/topic/red-sea-disruptions” target=”_blank”>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.
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