The Global Bunker Fuel Market was valued at USD 147.13 Billion in 2024 and is projected to reach USD 240.79 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period (2024–2032). This significant growth is driven by expanding global maritime trade, the implementation of stringent environmental regulations like IMO 2020, and the accelerating adoption of cleaner fuel alternatives such as LNG and biofuels.

As the shipping industry navigates its decarbonization journey, the focus shifts to the key fuel suppliers who are ensuring energy security while investing in sustainable solutions. In this blog, we profile the Top 10 Companies in the Bunker Fuel Industry—a mix of global energy giants, specialized fuel traders, and logistics leaders shaping the future of marine propulsion.

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🔟 1. World Fuel Services

Headquarters: Miami, Florida, USA
Key Offering: VLSFO, HSFO, MGO, LNG, and Biofuel Blends

World Fuel Services is the undisputed leader in the global bunker fuel market, holding an approximate 9% market share. The company operates an extensive supply chain network across over 200 countries and territories, providing comprehensive marine fuel solutions. Their services extend beyond fuel supply to include sophisticated logistics, risk management, and price hedging strategies for shipping operators of all sizes.

Sustainability Initiatives:

• Expanding portfolio of sustainable marine fuels, including biofuels

• Strategic partnerships with biofuel producers and technology providers

• Digital platforms for carbon footprint tracking and management

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Bunker Fuel Market – View in Detailed Research Report

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9️⃣ 2. Bunker Holding

Headquarters: Middelfart, Denmark
Key Offering: Full range of marine fuels, lubricants, and procurement services

As one of the world’s largest independent bunker trading companies, Bunker Holding operates through a network of subsidiaries across major global ports. The company’s strength lies in its risk management expertise and ability to source competitively priced fuels, serving a diverse clientele from tramp shipping to major container lines.

Sustainability Initiatives:

• Development of “green corridors” for low-emission shipping

• Investment in digital trading platforms to enhance supply chain transparency

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8️⃣ 3. Shell

Headquarters: London, United Kingdom
Key Offering: Shell Marine Fuels, LNG bunkering, technical services

Shell leverages its global refining and trading capabilities to maintain a leading position in the bunker fuel market. The company is at the forefront of developing and scaling alternative marine fuels, with significant investments in LNG bunkering infrastructure and biofuel production.

Sustainability Initiatives:

• Target to have LNG available at 15+ major ports globally by 2025

• Development of hydrogen and ammonia bunkering pilot projects

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7️⃣ 4. BP

Headquarters: London, United Kingdom
Key Offering: BP Marine Fuels, Castrol lubricants, fuel management services

BP’s marine division combines fuel supply with technical expertise, offering integrated solutions to shipping customers. The company is actively transitioning its portfolio toward lower-carbon alternatives while maintaining reliable supply of conventional bunkers through its strategic refinery locations.

Sustainability Initiatives:

• Expansion of bio-blended marine fuel offerings

• Net-zero ambition across operations by 2050

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6️⃣ 5. ExxonMobil

Headquarters: Irving, Texas, USA
Key Offering: ExxonMobil Marine Fuels, Mobilgard lubricants

ExxonMobil maintains a strong presence in key bunkering hubs worldwide, supported by its extensive refining capacity. The company provides technical support and fuel quality assurance services alongside its fuel offerings, helping vessel operators navigate the complexities of modern marine fuel specifications.

Sustainability Initiatives:

• Research into advanced biofuels and synthetic marine fuels

• Emission-reduction technologies for existing vessel fleets

Download FREE Sample Report:
Bunker Fuel Market – View in Detailed Research Report

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5️⃣ 6. Aegean Marine Petroleum

Headquarters: Athens, Greece
Key Offering: Marine fuel supply, lubricants, bunker trading

Aegean Marine Petroleum operates one of the largest independent bunkering fleets globally, with a strong presence in the Mediterranean, Caribbean, and U.S. markets. The company’s physical supply capabilities give it a competitive advantage in ensuring fuel availability and quality control.

Sustainability Initiatives:

• Investment in scrubber technology support services

• Expansion into LNG bunkering in strategic locations

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4️⃣ 7. Chemoil (Part of Glencore)

Headquarters: Singapore
Key Offering: Marine fuels, fuel oil trading, supply chain management

As a key player in the Asia-Pacific region, Chemoil benefits from its strategic location in Singapore, the world’s largest bunkering port. The company’s integration with Glencore’s global commodities trading network provides robust supply security and market intelligence.

Sustainability Initiatives:

• Development of digital bunker procurement solutions

• Focus on compliant low-sulfur fuel supply chains

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3️⃣ 8. TotalEnergies

Headquarters: Paris, France
Key Offering: Total Marine Fuels, LNG bunkering, lubricants

TotalEnergies is a major force in European bunkering and is rapidly expanding its global footprint. The company is particularly active in developing LNG as a marine fuel, with several LNG bunker vessels operating in key European hubs.

Sustainability Initiatives:

• Target to supply 10% of global LNG bunker market by 2025

• Investment in bio-LNG and synthetic methane production

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2️⃣ 9. China Marine Bunker (Chimbusco)

Headquarters: Beijing, China
Key Offering: Marine fuels, port services, supply logistics

As China’s leading bunker supplier, Chimbusco dominates the world’s fastest-growing maritime market. The company benefits from strong relationships with Chinese refiners and port authorities, positioning it as a key player in Asia’s bunker fuel landscape.

Sustainability Initiatives:

• Development of green methanol and ammonia bunkering pilots

• Participation in China’s national shipping decarbonization strategy

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1️⃣ 10. Bomin Group (Part of Mabanaft)

Headquarters: Hamburg, Germany
Key Offering: Marine fuels, LNG bunkering, risk management

Bomin Group has established itself as a significant player in European bunkering, with a growing presence in emerging markets. The company focuses on providing reliable supply solutions while expanding its capabilities in alternative fuels, particularly LNG.

Sustainability Initiatives:

• Development of LNG bunkering infrastructure in Northern Europe

• Carbon-neutral LNG supply options for customers

Get Full Report Here:
Bunker Fuel Market – View in Detailed Research Report

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🌍 Outlook: The Future of Bunker Fuel Is Sustainable and Digitized

The bunker fuel market is undergoing its most significant transformation in decades. While traditional heavy fuel oil still powers the majority of the global fleet, the industry is rapidly adapting to environmental mandates and investing billions in low-carbon alternatives, digital supply chain solutions, and new bunkering infrastructure.

📈 Key Trends Shaping the Market:

• Accelerated adoption of LNG bunkering, with capacity expected to triple by 2030

• Regulatory pressure driving biofuel blending mandates in key regions

• Digitalization of bunker procurement, quality assurance, and emissions tracking

• Strategic alliances between fuel suppliers, shipping companies, and port authorities

Get Full Report Here:
Bunker Fuel Market – View in Detailed Research Report

The companies profiled above are not only fueling global maritime trade—they’re pioneering the sustainable transformation of one of the world’s most vital industries.