Bunkering in India Grows by 64% in 2024
Bunkering activity in India has seen a significant increase in 2024. By July, the total number of bunkering and ship-to-ship calls to Indian ports rose by 64% year-on-year, reaching over 6,765 compared to 4,113 in 2023.
Mumbai’s Growth
Mumbai, a major bunkering hub, experienced a 53% rise in bunkering and ship-to-ship calls. The monsoon had little effect on this growth, according to S&P Global Commodity Insights.
Factors Contributing to Growth
Attacks on shipping in the Red Sea have led shipowners to take longer routes around Africa, increasing monsoon bunker demand at Indian ports. Favorable pricing and consistent supply from domestic refineries also fueled this growth.
Gujarat Ports
Gujarat-based ports, including Kandla, Sikka, and Mundra, saw a 26% month-over-month decline in July 2024, with total bunkering and ship-to-ship calls falling to 357.
Kochi and Colombo
Kochi’s demand remained stable despite some supply shortages. Increased bunker demand at Colombo led to supply tightness in Sri Lanka, affecting Colombo and Hambantota, but not Trincomalee.
Doubts Revealed
Bunkering -: Bunkering is the process of supplying fuel to ships. It’s like refueling a car, but for big ships.
Mumbai -: Mumbai is a big city in India, known for its busy port where many ships come and go.
Gujarat -: Gujarat is a state in India with important ports where ships load and unload goods.
Red Sea -: The Red Sea is a large body of water between Africa and Asia. It’s an important route for ships.
Kochi -: Kochi is a city in the Indian state of Kerala, known for its port and shipping activities.
Colombo -: Colombo is the capital city of Sri Lanka, an island country near India. It has a busy port too.
Supply shortages -: Supply shortages mean there isn’t enough fuel or goods available to meet the demand.
Ship-to-ship calls -: Ship-to-ship calls are when one ship transfers fuel or goods to another ship while at sea.
