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Procurement Market Intelligence Report

Bunker Fuel
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Bunker Fuel?

What is the average price of Bunker Fuel?

This procurement report includes pricing information to help you purchase Bunker Fuel. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Bunker Fuel been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Bunker Fuel yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Bunker Fuel?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Bunker Fuel with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

In 2020, the top four suppliers of bunker fuel account for greater than 50.0% of market revenue, indicating a high level of market concentration. The high level of concentration is partially due to the market's significant barriers to entry for new vendors, which preserves established players' market dominance. Bunker fuel... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Additional Service Offerings

Are there any other services you supply that pertain to my business?

What advantages are afforded if I choose to bundle bunker fuel purchases with other related goods such as propane?

Will the price change if I buy from one location versus another?

If I choose to bundle goods, how will my shipping options change?

Customer Service

How are customer service inquiries handled?

What is your response time in the event of a product issue?

Do you employ a staff of quality control managers?

Do you have any records of a time when you responded promptly to a client's product defect issue?

Amidst widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should state their maximum budget for the contract.

Buyers should indicate their expected price differentials for bunker fuel delivered to ships in different states based on fuel prices, taxes and distance of delivery for each state.

Buyers should dictate how price increases must be communicated.

Buyers should indicate their preferred payment method.

Selection Criteria

Buyers should prioritize suppliers that offer the most competitive rates.

Buyers should consider suppliers with facilities located near their delivery destinations, or those that have the ability to otherwise reduce shipping costs (e.g. pipelines).

Buyers should give preference to suppliers with strong track records of on-time deliveries.

For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should state the due date for questions and proposals.

Buyers should indicate the timeline for evaluating potential vendors.

Buyers must indicate the date award information will be available.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The average supply chain risk for bunker fuel is high. Although it is unlikely that any volatility in the supply chain will threaten the overall availability of material inputs, fluctuations in the upstream supply environment related to crude oil can have a dramatic effect on bunker fuel market prices. The... Subscribe to learn more.