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Bunkering activity in India experienced a significant growth during the first seven months of 2024. According to Commodities at Sea (CAS) data, the total number of bunkering and ship-to-ship (STS) calls to Indian ports increased by 64% year on year, surpassing 6,765 calls compared to just 4,113 during the same duration in 2023.
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Attacks on shipping in the Red Sea have prompted shipowners to take longer voyages around Africa. This disruption caused a substantial increase in monsoon bunker demand at Indian ports, which is typically lower due to weather disruptions. The growth was further fueled by favorable pricing and consistent supply flows from domestic refineries since second quarter of 2024.
