Global Bunker Demand Set To Grow As Seaborne Trade Recovers

Credits: SP Global


The outlook for 2023 is for higher global bunker fuel consumption on the back of longer expected sailing distances for vessels after sales at the key bunker hubs of Singapore and Fujairah fell in 2022, reports SP Global.

The first oil and gas auction

US Gulf of Mexico Lease Sale 259, held at the end of March, was closely watched as the first oil and gas auction offered in that area since November 2021. And given that expectations weren’t too high, the auction actually turned out quite well. It attracted 353 bids across 313 blocks and captured $264 million in apparent high bids – the highest total in six years.

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Source: SP Global


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