The International Energy Agency (IEA) is now expecting global bunker fuel demand to fall 5% overall in 2020 due to reduced sailings during the coronavirus pandemic.
In its forecast two months ago, the Paris-based energy watchdog for OECD had said marine fuel demand this year would fall marginally by 100,000 barrels per day (bpd) to 3.8m bpd.
But the IEA has revised down its forecast as the numbers of sailings of cruiseships, bulkers and containerships are falling.
