The fuel oil consumption in international maritime bunkers in Finland has seen significant fluctuations over the past decade. In 2023, it stood at 3020 Gigawatthours. Over the last two years, there was a 1.77% increase in 2023 following a substantial 44.66% increase in 2022. However, a longer-term view shows a more subdued trend, with a compounded annual growth rate (CAGR) of -0.48% over the last five years.
From 2013 to 2022, the annual year-on-year variations underscored a pattern of volatility, including notable peaks and troughs, such as a dramatic increase in 2015 and steep declines from 2020 to 2021. The predicted CAGR forecast to 2028 is -0.37%, indicating a slight but persistent downward trend in fuel oil consumption.
Future trends to watch for:
- Potential shifts towards greener fuel alternatives influencing fuel oil demand.
- Changes in international maritime regulations impacting fuel consumption.
- Technological advancements in maritime efficiency reducing overall fuel usage.
