According to researchers, the improving global economy is providing a steady boost to Asian trade and creating a rise in demand for bunker or marine fuel.
Analysts have already forecasted a 3.7 per cent growth of the global economy for 2014 which has improved by 0.5 per cent from 2013 with United States and some of the Europeans powers covering up for the slowing Chinese growth. The increasing demand for bunker fuel may not boost the fuel oil cracks, a measurement of the return on processing crude into the heavy residue fuel oil, like 380-centistoke used in shipping. At the moment, fuel oil accounts for almost all Asian bunker requirements. In fact, as much as 75 per cent of the total Singapore marine sales is comprised by 380-cst.