Fuel oil final consumption in domestic navigation in Finland has seen significant fluctuations over the past decade. Starting from 28.93 thousand tonnes of oil equivalent in 2013, the consumption has generally declined, reaching 9.67 thousand tonnes in 2023. Notable drops occurred in 2014 and 2015, with consumption falling by 46.66% and 31.28% year-on-year, respectively. Following minor fluctuations, the most significant decrease came in 2020 with a 50% drop. The years 2022 and 2023 saw a notable recovery, especially in 2022 with a 146.45% increase. Over the last five years, the Compound Annual Growth Rate (CAGR) was -1.85%.
Looking ahead, the forecast suggests a continued decline with a CAGR of -9.83% from 2024 to 2028, amounting to an overall decrease of 40.41% by 2028. In 2024, the consumption is expected to be 8.77 thousand tonnes with a further drop to 5.23 thousand tonnes by 2028.
Future trends to watch for include:
- Impact of environmental regulations on fuel oil consumption.
- Technological advancements in marine fuel efficiency.
- Potential shifts to alternative fuels or energy sources in domestic navigation.
- Economic factors influencing domestic shipping activities.