Spain Bunker Fuel Market Research Report, 2030

Spain's bunker fuel market has undergone significant transformations, influenced by international regulations, technological advancements, and geopolitical events. Spain has been a pivotal player in the Mediterranean maritime sector, with major bunkering hubs in Algeciras and Las Palmas. Introduction of the International Maritime Organization's (IMO) 2020 sulfur cap, which limits sulfur content in marine fuels to 0.5%, prompted Spanish ports to adapt by increasing the availability of Very Low Sulfur Fuel Oil (VLSFO). Companies like Repsol have expanded their VLSFO offerings across various Spanish ports to comply with these regulations. The market has also seen a shift towards alternative fuels, notably Liquefied Natural Gas (LNG), as part of the industry's efforts to reduce carbon emissions. Titan LNG secured a tender in the Port of Marseille to supply LNG for Corsica Linea's new LNG-fueled ferry, A Galeotta, marking a significant expansion into the Mediterranean region. The acquisition of Vilma Oil Med by TFG Marine in April 2024 underscores the consolidation trend within the industry, aiming to enhance operational reach and fuel supply capabilities in the Western Mediterranean. The market faces challenges such as fluctuating oil prices, geopolitical tensions, and the need for substantial investments in infrastructure to support alternative fuels. The volatility in global oil markets can impact fuel pricing and supply stability. To address these challenges, stakeholders are investing in digital technologies for better fuel management and exploring a diverse range of fuel options to ensure compliance with evolving environmental standards. Looking ahead, the industry's focus is on achieving long-term sustainability goals, including the reduction of greenhouse gas emissions by 75% by 2050, as outlined in the EU's Fit for 55 guidelines. According to the research report "Spain Bunker Fuel Market Research Report, 2030," published by Actual Market Research, the Spain Bunker Fuel market was valued at more than USD 1.81 Billion in 2024. The presence of the CEPSA Gibraltar-San Roque Refinery, one of the largest in the region, supports this demand by supplying substantial quantities of fuel to vessels transiting these waters. Spain's commitment to environmental regulations, such as the IMO 2020 sulfur cap, has led to increased adoption of low-sulfur fuels and the development of infrastructure to support alternative fuels like LNG. The country's investments in port facilities and logistics further enhance its position as a key player in the Mediterranean bunkering market. The development of green methanol production facilities, such as the one in Gijón, aligns with Spain's commitment to sustainable maritime fuel solutions. Despite these advancements, the market faces challenges including fluctuating fuel prices, geopolitical uncertainties, and the need for substantial investments in alternative fuel infrastructure. A notable advancement is the development of green methanol production facilities, such as the €1 billion project in Huelva by Cepsa and C2X, which is set to become one of Europe's largest green methanol plants. This facility will utilize green hydrogen and captured CO? to produce up to 300,000 tons of green methanols annually, contributing to the decarbonization of maritime transport and the chemical industry. Spain can implement targeted subsidies, tax credits, and port fee reductions for companies investing in green bunkering infrastructure such as LNG, biofuels, and methanol supply chains. Regulatory mechanisms like accelerated permitting for renewable fuel terminals and bunkering vessels would reduce bureaucratic delays and attract private investment. Spain could formalize green shipping corridors, for instance between Barcelona, Valencia, and Mediterranean ports, supported by coordinated bunkering infrastructure and regulatory roadmaps.

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While its usage has decreased due to the IMO 2020 sulfur regulations, High Sulfur Fuel Oil still holds a presence in Spain's bunkering market, especially for vessels using scrubbers to meet emissions standards. Spain's refineries continue to produce High Sulfur Fuel Oil, albeit in reduced volumes, and the fuel remains a cost-effective option for certain ships that can manage its environmental impact. Marine Gas Oil is the preferred choice for ships requiring cleaner fuel in compliance with IMO 2020. With its lower sulfur content, Marine Gas Oil is in high demand in Spain's major bunkering ports, such as Algeciras and Barcelona, to serve vessels in international trade. Its relatively higher cost compared to HSFO is justified by the increasing environmental and regulatory pressures on the shipping industry. Liquefied Natural Gas is gaining momentum as a cleaner alternative, especially in Spain’s push towards sustainability. Spain has expanded Liquefied Natural Gas bunkering infrastructure, including Liquefied Natural Gas bunkering vessels and terminals in ports like Barcelona and Bilbao. It is increasingly used by LNG-powered ships and by those looking to reduce CO2 and sulfur emissions. Spain is also exploring biofuels and green methanol as part of its transition to renewable marine fuels. These alternatives align with Spain's long-term goals to decarbonize maritime transport. Spain’s bustling port network, particularly in Barcelona and Algeciras, serves as a crucial hub for container ships. These vessels, which require significant fuel volumes, mostly use Marine Gas Oil (MGO) due to the stricter emission regulations. The adoption of cleaner fuels, like LNG, is on the rise for container vessels, aligning with Spain's sustainable maritime goals. Bulk carriers, which transport raw materials like coal and grain, tend to rely on HSFO due to its cost-efficiency. In Spain, these vessels are transitioning to VLSFO and MGO in line with the IMO 2020 sulfur cap. However, due to operational efficiency needs, bulk carriers may be slower to adopt alternative fuels like LNG. Spain's oil tanker fleet, primarily docking in ports like Tarragona and Cartagena, uses both MGO and HSFO. The shift towards cleaner fuels is influenced by regulatory pressures and demand for compliance with emission control areas. These vessels often use MGO for its cleaner-burning properties, minimizing the risk of contamination in sensitive cargoes. Spain's chemical tanker fleet is increasingly adopting VLSFO and LNG to meet both environmental standards and operational demands. These ships, which carry a wide range of goods, typically rely on MGO, although some are transitioning to LNG or VLSFO to comply with global emissions standards. Large multinational oil companies, like Repsol and CEPSA, dominate Spain’s bunker fuel distribution network. These companies own significant infrastructure, including refineries, storage facilities, and a vast fleet of bunkering vessels, enabling them to supply a wide range of fuels, including MGO, VLSFO, and LNG, to vessels across Spain's major ports, including Algeciras, Barcelona, and Valencia. Their extensive reach and established market presence ensure reliability in fuel delivery, bolstering their position as the preferred suppliers for large fleets and high-volume consumers. Large independent distributors, such as Intercontinental Fuels and Petróleos del Norte, also play a significant role in Spain's bunker fuel market, operating with a robust network of supply points and specialized services. These distributors often focus on niche fuel types or specific ports, offering flexibility and competitive pricing that can cater to a wider range of vessel types, including cruise ships, tankers, and bulk carriers. Smaller independent distributors in Spain serve more localized markets and specific customer segments, such as smaller vessels, fishing fleets, or regional shipping lines. While they may not have the same extensive infrastructure as oil majors, they offer personalized services, flexible delivery options, and an ability to adapt quickly to customer needs, especially in secondary ports or less frequented locations. Furthermore, the growing demand for low-emission fuels in Spain has led to increased interest from both large and small distributors in offering LNG and biofuels, aligning with Spain's environmental policies and the EU's push for greener shipping. ?

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Nikita Jabrela

Business Development Manager

Considered in this report • Historic Year: 2019 • Base year: 2024 • Estimated year: 2025 • Forecast year: 2030 Aspects covered in this report • Bunker Fuel Market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • High Sulfur Fuel Oil (HSFO) • Marine Gas Oil (MGO) • Liquefied Natural Gas (LNG) • Other Fuel Types

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By Application • Container Ships • Bulk Carriers • Oil Tankers • Chemical Tankers • General Cargo Ships • Others By Distribution Channel • Oil Majors • Large Independent Distributors • Small Independent Distributors The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.