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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?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, 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?

Relevant Experience

What procedures have you implemented to establish adequate knowledge of latest technological developments or market changes for downstream buyers?

What former experience do you have in providing bunker fuel for applications similar to mine?

In what ways have you stayed up to date with the latest technical developments? Have you taken any steps toward process automation?

How often have you engaged with companies from my industry?

Company Health

How long have you been in the business of supplying bunker fuel?

Is your firm insured or bonded?

Are you now or have you ever been involved in a merger, acquisition or other divestment? How does this impact your business?

Can you describe any issues with your balance sheet?

What is the credit score of your business?

Customer Satisfaction

Do you have any long-term clients I can speak to as professional references? Can you describe their relationship with your company?

What is the average length of a customer relationship for your company?

How do I get in touch if there is an issue with my contract?

How do clients typically review your performance?

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?

Supply Chain

How do changes in raw material prices (e.g. crude oil) affect your business and me as a buyer?

Do you source materials with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?

How would you deal with cost changes for manufacturing machinery?

If prices for some of your inputs have been volatile in the past, do you have a plan for mitigating supply chain risk due to a price fluctuation?

How do you ensure the quality of your primary inputs?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?

Can you tell me about a time when there was a disruption in the supply chain? What did you do to fix it?

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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.

HIGH

MEDIUM

LOW