In 2023, Spain dominated the European market for Gas Oil and Diesel Oil consumption in international maritime bunkers with a significant year-on-year growth rate of 17.1%. The Netherlands and Germany experienced slight declines, whereas the United Kingdom and Belgium saw modest increases of 1.24% and 2.67%, respectively. Sweden's consumption rose by 9.29%, driven by maritime activities. A notable surge was seen in Latvia with a 35.08% increase. Poland and Slovenia also showed strong upward trends, with increases of 9.65% and 21.86% respectively. Conversely, declines were reported in Estonia and Norway, at -5.84% and -3.46% respectively, pointing towards a shift in maritime fuel dynamics.
Looking ahead, the European market is likely to be influenced by regulatory pressures aimed at reducing carbon emissions, potentially limiting diesel oil demand in maritime bunkering. Innovations in cleaner technologies and alternative fuels, coupled with market adjustments following geopolitical developments, remain critical factors. Asia and the Middle East may drive demand growth, altering trade patterns and impacting European bunker markets. Keep an eye on policies that encourage sustainable practices and technological advancements in maritime fuels, as they will likely shape future consumption trends. Additionally, fluctuations in global oil prices and economic conditions may further influence year-on-year variations.
Top countries in Gas Oil and Diesel Oil (Excluding Biofuel Portion) Consumption in International Maritime Bunkers Share by Country (Terajoules)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 20.95 | 2023 | +0.28% | +17.1% | View data |
| 2 | 2 Netherlands | 14.82 | 2023 | +0.27% | -0.55% | View data |
| 3 | 3 United Kingdom | 13.16 | 2023 | +1.49% | +1.24% | View data |
| 4 | 4 Belgium | 11.15 | 2023 | -0.075% | +2.67% | View data |
| 5 | 5 Sweden | 6.1 | 2023 | +1.08% | +9.29% | View data |
| 6 | 6 Germany | 5.46 | 2023 | +6.09% | -0.43% | View data |
| 7 | 7 Italy | 5.06 | 2023 | -1.04% | +6.8% | View data |
| 8 | 8 Malta | 3.09 | 2023 | +2.74% | +2.41% | View data |
| 9 | 9 Greece | 2.98 | 2023 | +4.48% | +4.1% | View data |
| 10 | 10 Denmark | 2.73 | 2023 | +0.34% | -0.51% | View data |
