Bunkering is a critical procedure carried out thousands of times daily across the globe. As an essential component of global trade and the economy, bunkering ensures the seamless operation of the world’s maritime fleet. In this article, we’ll explore the concept of bunkering, its historical origins, and its impact on the global bunker fuel market.
What is Bunkering? Bunkering refers to the process of supplying fuel for ships, with the fuel itself commonly known as bunkers. The term “bunkering” has its roots in the days when coal-powered steam engines were the primary energy source for ships, and coal was stored in designated bunkers on board. Nowadays, the term typically refers to the storage of oil products on ships, and should not be confused with concrete strongholds used in armed conflicts.
Two of the largest and most well-known bunkering ports in the world are Rotterdam in the Netherlands and Singapore. These strategic locations have played a significant role in the growth and development of the global maritime industry.
Bunkering usually takes place at sea through a ship-to-ship operation. A smaller bunker barge, specifically designed for the purpose, moors alongside the receiving vessel. The bunker barge then pumps the pre-ordered fuel into the receiving ship’s storage tanks. This efficient method ensures minimal disruption to the ship’s ongoing operations.
The global bunker fuel market is a massive industry, with a market size exceeding $150 billion and showing continuous growth. This thriving sector is vital to the smooth functioning of the worldwide maritime trade, underscoring the importance of bunkering as an indispensable process in modern shipping.
Bunkering is a crucial aspect of the global maritime industry, ensuring that ships have the necessary fuel to continue their journeys. With major bunkering hubs like Rotterdam and Singapore playing a central role, and the ever-growing global bunker fuel market, the importance of bunkering in the world’s economy cannot be overstated.