Digitalization of Bunkering: Enhancing Transparency and Efficiency
Bunker fuel—often hidden behind the curtain of global trade—is the powerhouse that drives the massive vessels ferrying goods across oceans. From crude oil to coffee beans, the global economy leans heavily on the shipping industry. At the heart of this industry lies bunker fuel, a critical resource for marine engines. As the world shifts toward cleaner energy and stricter regulations, the bunker fuel market is navigating through a transformative era.
Bunker fuel, also known as marine fuel, is used to power ships. Traditionally, it has been derived from the residuals left after crude oil refining—most notably, heavy fuel oil (HFO). It is categorized into distillate fuels (like marine gas oil) and residual fuels. Residual fuels have been the dominant category due to their low cost and high energy output, but they also come with a hefty environmental cost.
Shipping consumes nearly 300 million metric tons of fuel annually. Given that…