A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Marine
Fuel Management
market. The
study, titled “Marine
Fuel Management Market - Global Industry Analysis, Size, Share,
Trends, Analysis, Growth and Forecast 2016 - 2023”,
is available for sale on the firm’s website.
Marine
Fuel Management: Overview
Marine
fuel costs represent a major portion of vessel operating costs.
Escalating marine fuel oil prices and strict environmental norms has
lead to the need for efficient marine fuel management. This leads to
increased focus on making the ship more energy efficient by
monitoring fuel consumption. Many global environmental agencies have
enforced emission standards related to marine fuels; mapping of
emissions in designated areas is also a part of fuel management.
Marine fuel also known as bunker fuel is heavier distillate product
obtained after a vacuum distillation process in refineries. This fuel
oil is thick & heavy and thus it needs to be maintained at a
proper temperature to control the viscosity.
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Efficient
fuel monitoring and viscosity control is a major part of marine fuel
management. The global marine agencies have declared many areas as
emission controlled areas where the limit on sulphur emissions is
kept very low. In these areas the heavy fuel oil needs to be switched
with another blend of light fuel oil, leading to the need of fuel
management system. Ship owners across the globe are now focusing on
effectively curbing the fuel costs in this competitive market and an
effective marine fuel management system provides an ideal solution to
this market scenario.
Marine
Fuel Management: Drivers
The
increasing bunker fuel prices and stringent environmental rules are
the primary drivers to the growth of marine fuel oil management
system market. The quality of marine fuels needs to be properly
monitored at the time of fueling the ship. The specifications and
grade of fuel oil required by the ship engine have to be carefully
tested before starting the fueling process. Many new technologies
such as Coriolis flow meters are now being adopted by many bunker
suppliers and port authorities for fuel oil measurement while fueling
the ship. The ISO has fixed specifications for marine fuels supplied
worldwide. Efficient blending of different grades of fuel oil to
obtain the desired category of marine oil requires the need of fuel
oil management system. The additional costs required for installing
these equipments and the salaries of the required management staff
act as restraints for adoption of this system.
The
marine fuel oil management system can be broadly segmented on the
basis of monitoring solutions. The monitoring techniques are fuel
metering, viscosity control, fuel switching and shaft metering. Fuel
monitoring systems are used in measurement of consumption patterns of
every engine for different fuel categories and viscosity controllers
monitor the viscosity and density of the heavy fuel oil before it
enters the engine. Fuel switching system is an effective method of
emission control in different areas which enables convenient
switching between different grades of fuel oil. On the other hand
shaft metering equipments are placed on the shaft to monitor the
thrust and torque delivered by the engine of the ship.
Marine
Fuel Management: Regional Insight
Europe
is the centre for the shipping and bunker fuel market. The major
shipping corporations, bunker suppliers and traders are located in
Europe. Thus this region provides opportunities for the demand growth
of these monitoring systems. The growing Asia Pacific economy and the
increasing trade through shipping routes also provides an opportunity
for this market segment. Singapore and China are investing huge
amounts in this market. Many ship owners and port authorities in
these regions have started to invest in these systems to compete in
the changing market scenario.
Browse
Market Research Report with ToC & Analysis :
The
major players competing in this market are Emerson Process
Management, Aquametro AG, Guard Level, FuelTrax and Equatorial Marine
Fuel Management.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
The
study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
About
Us
Transparency
Market Research (TMR) is a market intelligence company, providing
global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. TMR's
experienced team of Analysts, Researchers, and Consultants, use
proprietary data sources and various tools and techniques to gather
and analyze information.
Our
data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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Market Research
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