Through most of last year, and especially in the fourth quarter, we highlighted the weak fundamentals in the oil market and the downward pressures on oil (and bunker) prices.

The bunkering trade is an essential part of the maritime industry, involving the supply of fuel to ships and vessels. Understanding this complex sector is crucial for those involved in shipping, logistics, or fuel procurement. Bunkering fuels—primarily marine fuel oils like IFO (Intermediate Fuel Oil) and MGO (Marine Gas Oil)—are critical for powering vessels, from commercial shipping carriers to luxury yachts.