Tighter carbon rules, slower economy to erode bunker demand growth, IEA says

LONDON: Stricter environmental regulations and slower global economic growth will soften marine fuel demand in the coming years, the International Energy Agency said in its annual report on Tuesday.

Marine fuel sales jumped last year due to Red Sea disruptions that made shipping companies take longer routes.

But demand for those fuels, also called bunkers, could flatline at around 5 million barrels per day (bpd) in 2024-2030, because of weak underlying shipping growth and rising costs from tougher maritime environmental standards, the IEA said.

Last…