In 2023, the Netherlands led European fuel oil consumption in international maritime bunkers, followed closely by Belgium and Spain. Over the past year, notable shifts included a decline in consumption in major countries like Germany (23.76%) and the United Kingdom (9.05%), while Denmark and Latvia experienced significant increases of 12.23% and 50.74%, respectively. Greece and Portugal saw moderate growth. The cumulative average variation over the last five years suggests a slow overall increase in consumption, shaped by significant country-specific fluctuations.
Future trends to watch include:
- The impact of new environmental regulations on fuel oil consumption and the potential shift towards more sustainable alternatives.
- Technological advancements affecting bunker fuel efficiency and overall demand.
- Geopolitical developments that might influence trade routes and shipping activity in Europe.
Top countries in Fuel Oil Consumption in International Maritime Bunkers Share by Country (Terajoules)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Netherlands | 25.88 | 2023 | -2.45% | -0.94% | View data |
| 2 | 2 Belgium | 21.6 | 2023 | +7.36% | -2.03% | View data |
| 3 | 3 Spain | 15.95 | 2023 | +4.43% | -1.49% | View data |
| 4 | 4 Italy | 6.42 | 2023 | +3.05% | -0.59% | View data |
| 5 | 5 Greece | 6.34 | 2023 | +9.31% | +2.67% | View data |
| 6 | 6 Sweden | 5.62 | 2023 | +3.26% | +8.2% | View data |
| 7 | 7 Malta | 4.87 | 2023 | +2.08% | -2.51% | View data |
| 8 | 8 France | 4.7 | 2023 | +11.3% | -2.33% | View data |
| 9 | 9 Portugal | 2.45 | 2023 | +10.03% | +3.55% | View data |
| 10 | 10 United Kingdom | 1.49 | 2023 | -8.9% | -9.05% | View data |
