Balancing the Bunker Numbers: GAC Director to Address Academy

MarineLink.com
Monday, November 11, 2013
Bunkering operation: Photo CCL

The importance of balancing the numbers for a successful bunker fuel trading operation will be stressed by GAC's Nicholas Browne when he shares his experience at the Lloyds Maritime Academy Bunker Management School shortly.

His central theme will focus on the bottom line. Getting prompt and pain-free payment for delivered supplies has always been a thorny issue in the bunkers trade. In the current financial climate of volatile prices, strict emission controls and geographical spread, traders must be sure
that their clients can and will pay up if they want to secure their own financial stability and, ultimately, survival.

In his speech, the Global Director of GAC Bunker Fuels will outline what bunker traders need to keep in mind making the judgment calls they face every day. What are the criteria for granting credit to a new customer? How can they minimize their risk exposure? What checks should be made before accepting a new client?

In a separate session, Browne will discuss the various purchasing methods used in today's bunker trade including reverse auctions, panels and price pressing.

"The bunker trade has become more complicated in recent years," he adds. "On average, bunker costs represent about 70% of a vessel's purchasing expenses and as rising prices mean tighter margins, the only way to grow business is to make the money you have work for you. Delayed payments, extended credit lines and defaults can put an end to serenity even of the
biggest market players. Traders need to think smart when selecting their suppliers, and be aware of the warning signs to watch out for beforeoffering a credit. Cash – and its healthy flow – is king."

Browne will join other trade experts sharing their expertise and experience at the Bunker Management School in London on 11-13 November. Over the course of three days, the key focus will be on three pillars of the bunker trade: optimising operations, exploring commercial trends, and understanding the legal framework.

For more details go to:
http://www.lloydsmaritimeacademy.com/event/bunkerschool


 

Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Children’s Day at Gazprom Transgaz Saratov

On May 31 and June 1, 2014 . Over two thousand children from the Saratov, Tambov and Penza Regions took part in sports competitions, environmental quizzes and

Rolls-Royce Appoints Ruth Cairnie as Non-Executive Director

Rolls-Royce is pleased to announce that Ruth Cairnie has been appointed as a Non-Executive Director of the Company with effect from 1 September 2014. Ruth

Geo-Science Provider TGS Reports Strong Half 2014 Results

TGS reports net revenues of USD 205 million in Q2 2014, compared to USD 210 million in Q2 2013. Earnings before interest and taxes (EBIT) totaled USD 82 million,

Finance

1H 2014 Profits of Port of Tallinn Up 16%

Port of Tallinn earned an unaudited half-year net profit of 20.2 million euros with company’s turnover reaching 59 million euros. Compared to last year the turnover

Geo-Science Provider TGS Reports Strong Half 2014 Results

TGS reports net revenues of USD 205 million in Q2 2014, compared to USD 210 million in Q2 2013. Earnings before interest and taxes (EBIT) totaled USD 82 million,

Matson Reports Solid Q2 2014 Results, Dividend Increased

Leading U.S. carrier in the PacificMatson, Inc. reported net income of $18.1 million or $0.42 per diluted share for the quarter ended June 30, 2014, compared with $20.

Education/Training

Children’s Day at Gazprom Transgaz Saratov

On May 31 and June 1, 2014 . Over two thousand children from the Saratov, Tambov and Penza Regions took part in sports competitions, environmental quizzes and

Video: RIMPAC 2014 Ships Underway

The U.S. Navy posted a video showing Rim of the Pacific (RIMPAC) Exercise 2014 operations underway. Watch as 42 ships and submarines representing 15 international

MPHRP's Welfare Responder Training in Manila

Few people are as devoted to seafarers’ wellbeing as MPHRP’s partners, which include the members of the International Seafarers Welfare and Assistance Network

Fuels & Lubes

Korea Shipbuilder Wins US$400-M Greek Order

Daewoo Shipbuilding & Marine Engineering Co., South Korea’s second-largest shipbuilder, says it has signed a contract to build 4 tankships for Maran Tankers Management,

Enterprise to Expand Houston Ethane Export Terminal

Enterprise Products Partners LP said it was looking at expanding the ethane export facility it is building on the Houston Ship Channel after winning another transport contract.

There’s Still Time for SHIPPINGInsight Award Entries

Entry submissions for the first SHIPPINGInsight Award are due Friday, Aug. 1, but organizers said they will continue to accept nominations through following week to provide some extra time.

People in the News

ABS President Wiernicki Signs New MARAD Agreement

The American Bureau of Shipping (ABS) informs that it has entered into a new Memorandum of Agreement (MOA) establishing the policies and procedures regarding the

MNZ Opens New Office in Port Taranaki

Maritime New Zealand (MNZ) informs that for the first time in 5 years it has a permanent presence in New Plymouth on the opening of a new office at Port Taranaki

Former MSC Manager Sentenced on Bribes Charges

Former Afloat Programs Manager at the United States Navy Military Sealift Command (MSC), Kenny E. Toy, was sentenced to 96 months in prison for receiving bribes, the U.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2549 sec (4 req/sec)