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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Genoa Bunker Fuel Market Trends
Italy's extensive coastline, stretching over 7,600 kilometres, provides ample opportunities for port development and maritime activities. The country boasts several major ports, including Genoa, Naples, and Trieste, which are crucial hubs for both domestic and international trade. These ports are equipped with modern infrastructure and facilities, making them attractive destinations for shipping companies and logistics providers. For instance, in the first three quarters of 2023, the port of Genoa handled a total of 41.16 million tonnes of goods. Increase in marine trade activities is leading to the Genoa bunker fuel market growth with the rise in export-import activities.
The growing usage of scrubbers within marine bunkers for the consumption of high-sulfur oil in Italy is part of a broader trend in the shipping industry towards compliance with environmental regulations, particularly the International Maritime Organization's (IMO) sulfur emission limits. The use of scrubbers in the Genoa bunker fuel market enables ships to continue using HSFO, which is typically cheaper than low-sulfur fuel oil (LSFO) or marine gas oil (MGO), thereby helping reduce operating costs.
Genoa Bunker Fuel Market Snapshots
Genoa Bunker Fuel Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Genoa bunker fuel market reached a volume of 1,037.39 KT in the year 2018.
The market is projected to grow at a CAGR of 3.71% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of 1,360.23 KT by 2032.
The key types are residual fuel, distillate fuel, and others.
The end uses include containers, bulk carriers, general cargo, and tankers.
The commercial distributors are large independent, small independent, and oil majors.
The factors driving the market include the rising use of green and sustainable fuels, prominent logistics and shipping activities, and the growing usage of scrubbers.
The key players in the market include Alpha Trading SPA, Saras SPA, Basile Petroli SPA, FRATELLI COSULICH S.p.A., and Enilive S.p., among others.
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United States (Head Office)
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124