Bunker Traders News

-Monthly sales of marine fuel, also known as bunker fuel, hit over five-year highs at the world's largest refuelling hub Singapore in May as vessel arrivals spiked amid firm container throughput, official data showed on Wednesday.Singapore's bunker sales are an indicator of sentiment at one of the world's major ports and demand also affects fuel oil refining margins in Asia. Sales extended gains for a third consecutive month to 4.52 million tonnes, up 6.2% month-on-month, Singapore's Maritime and Port Authority data showed.

Marine fuel sales at the world's largest bunkering hub Singapore held steady at 4.12 million tonnes in August, with the number of vessel arrivals for bunkering little changed, official data showed Tuesday.Sales for low-sulphur marine fuels were steady to higher from the previous month, though total monthly sales were weighed down by a slight decline in high-sulphur fuel oil (HSFO). "HSFO bunker volumes were lower, potentially due to the two-month suspension of Glencore's bunkering license in Singapore…

Fast-growing offshore windfarms expect low carbon service operations by support vessels, but supplying and handling biofuels is a challenge and the development of ammonia and hydrogen-powered vessels still has a long way to go, ship fuel broker and trader LQM Petroleum Services said.The global offshore wind industry continues to balloon, adding 6.1 GW capacity in 2019 and has continued to grow through the Covid-19 pandemic, the company reminded."In Europe the sector has now reached…

Global supply of fuel oil, used by ships and power plants, is expected to grow in the third quarter, depressing the marine fuel market as shipping demand remains weak, analysts and trade sources said.Third-quarter supply is estimated to rise by 620,000 barrels per day (bpd) from the second quarter as China and Brazil increase production, according to consultancy Energy Aspects.This comes as inventories across key marine refueling hubs recently reached all-time highs, depressing bunker fuel prices and refiners' margins and dashing hopes for a profitable year for sellers of low sulfur fuel that

China's marine fuels sales fell by as much as 50% in February as the rapidly spreading coronavirus and prolonged Lunar New Year break strangled freight movement in and out of the global manufacturing powerhouse, trade sources said.The epidemic, which has killed almost 3,000 people and infected about 80,000 in China alone, triggered the sharpest contraction on record for Chinese factory activity in February and caused massive port congestion because of labor shortages.The resulting plunge in freight demand has knocked 40% off Asian prices for very low-sulphur fuel oil (VLSFO) since early Januar

Stamford, CT-based Dan-Bunkering (America)  announced the relocation of two Bunker Traders, the employment of a Senior Purchaser, and a new office address.Kasper Christiansen, Danish national, has relocated to Dan-Bunkering in Stamford as of 1 May 2019. Prior to the relocation, Kasper was working as a Senior Bunker Trader in the head office in Middelfart, Denmark; an office which he joined in 2010. He has, however, in the meantime been stationed abroad for a period of two years in Asia, thus he is thoroughly versed in various markets and holds nine years of valuable experience within the industry. Janek Ekeli, originally from Norway, also relocated to Dan-Bunkering’s Stamford office as of 1 May 2019 from another company in the group, i.e. the Middle Eastern office in Dubai.

BIMCO’s Documentary Committee approved a new set of standard bunker terms, developed by a cross-industry group, in New York on 2 May. The BIMCO Bunker Terms 2018 improve on the previous edition with a maximum limit of the parties’ liabilities – a key change that will lead to wider adoption of the contract. “I think it is a positive step for the industry that representatives for the bunker traders and shipowners have agreed on a standard set of terms, which both parties consider fair and balanced,” says Francis Sarre, Chair of the BIMCO Documentary Committee. The trader representatives who helped draft the contract together account for 25% of the total bunker volume sold globally, which BIMCO sees as a very strong sign of support for the final result.

As widely reported in the maritime press, the United Kingdom's Supreme Court has granted an expedited hearing to Product Shipping & Trading's case against the collapsed OW Bunker (the Res Cogitans). The hearing will take place on 22 March in London and will deliver the final English law verdict on whether many hundreds of shipowners should pay OW Bunker's assignee ING Bank or pay the physical suppliers. In October 2015 it was held by the Court of Appeal that the UK Sale of Goods Act 1979 did not apply to contracts signed with OW Bunker as an intermediary for the supply of bunkers on credit.

BP Singapore kept its spot as a top marine fuel supplier by volume for the eleventh straight year in 2014 at the world's biggest bunkering port, the Maritime Port Authority of Singapore (MPA) said. MPA does not specify the volumes each supplier sells, but traders pegged the oil major's sales at around 400,000 tonnes a month, or about 10 percent of the country's monthly sales. Overall Singapore sold 42.4 million tonnes of marine fuel last year. This is slightly behind the sales volume achieved in 2013 at 42.7MT. Bunker traders sources have attributed the drop to more efficient use of ship-fuel systems, such as slow steaming and the slowdown of economic activities in Asia. While BP maintained its first position, the second to fifth positions remained unchanged from last year.

Swiss trading house Mercuria has moved to become a significant player in the marine fuel market by hiring a team of close to 40 former employees from the once-largest supplier, traders and sources close to the matter said on Tuesday. The bankruptcy of Denmark's OW Bunker, which had controlled around 7 percent of the global shipping fuel market and employed more than 600 people, has given Mercuria an opportunity to beef up its business shortly after it acquired the physical commodities unit of JPMorgan Chase & Co. The hiring of OW Bunker traders will help integrate Mercuria's existing fuel oil business, trading cargoes typically in sizes of 20,000 tonnes, and the sale of fuel in smaller lots to be delivered to ships, which take only up to around 5,000 tonnes per delivery.

Shipping companies and bunker oil traders scrambled to source fuel and take over supply contracts on Thursday after OW Bunker, one of the world's biggest shipping fuel firms, said it faces possible bankruptcy after uncovering internal fraud. Traders said refineries and other shipping fuel suppliers were cutting deliveries and were likely to cancel long-term contracts with the Danish company, which handles around 7 percent of all global bunker fuel supplies. An OW Bunker spokesman, asked whether the firm had put its activities on hold, said he could not comment further while the in-court restructuring process was ongoing. But a source familiar with the matter said OW Bunker was halting the majority of its operations. "Most activities are put on hold," the source said.

GAC Bunker Fuels says it has further consolidated its position in the North Sea by appointing Per Steffen Bolstad to the bunker trading team in Bergen, Norway, where he joins bunker trader Christer Benjaminsen. Nicholas Browne, Global Director of GAC Bunker Fuels says “Per Steffen has eight years’ shipping experience, and was mostly recently Branch Manager in Bergen. He is yet another quality addition to our global bunker trading team, strengthening our commitment to operational excellence in strategic locations for our customers.” The company adds that GAC Bunker Fuels has expanded rapidly in the last two years, and now has a team of 25 bunker traders worldwide.

Three new appointments announced as recruitment drive to support expanding customer base continues. Dynamic Oil Trading has announced a series of appointments at the company’s recently launched Dubai office, amid continued expansion of the firm’s Middle East operation. Bunker traders Leonore Lagendijk and Mirko Antichi, as well as accountant Sheila Oller will join Dynamic Oil Trading’s Dubai operation with immediate effect. Leonore comes to the role with three and a half years’ trading experience, having previously held trading jobs at O.W. Bunker Middle East DMCC and BP.

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 this week. 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. His central theme will focus on the bottom line.

A/S Dan-Bunkering Ltd. announced that Matias Engel and Christina Larsen have been employed as Bunker Traders as of August 1, 2013. Matias will be a part of the trading department in the head office in Middelfart, while Christina has joined the office in Copenhagen. dan-bunkering.com

Lindy Ghercke Wegener Friis has been appointed a trader in the company's head office. Lindy has previously been working in the sales department. He has now been appointed a member of the trading department in the company’s head office in Middelfart, Denmark. A/S Dan-Bunkering Ltd. has been in the bunker business for more than 3 decades, arranging bunker supplies; fuels, lubricants, and other related products and services for vessels all over the world. The head office is situated in Middelfart with offices in Copenhagen…

GAC Bunker Fuels Limited has appointed two new UAE-based bunker traders as part of its regional expansion plan. Georgia Paravalou will trade and broker marine fuels in her new role. An economics and management graduate, she joins GAC Bunker Fuels from AP&A. Ltd, where she worked as a shipbroker, coordinated the marketing department and developed business in the UK and South China. Anthony Inglis is charged with expanding GAC's bunker business in the Middle East and developing bunkering operations in Sub-Saharan Africa. He joined GAC Bunker Fuels from Weatherford International, where he served as a Procurement and Logistics Co-ordinator for the same market. says Nicholas Browne, Global Director of GAC Bunker Fuels.

GAC Bunker Fuels has appointed two new UAE-based bunker traders as part of its regional expansion plan. Georgia Paravalou will trade and broker marine fuels in her new role. Aneconomics and management graduate, she joins GAC Bunker Fuels from AP&A. Ltd, where she worked as a shipbroker, coordinated the marketing department and developed business in the UK and South China. Anthony Inglis is charged with expanding GAC's bunker business in the Middle East and developing bunkering operations in Sub-Saharan Africa. joined GAC Bunker Fuels from Weatherford International, where he served as a Procurement and Logistics Co-ordinator for the same market. "We are delighted to welcome Georgia and Anthony to GAC Bunker Fuels," says Nicholas Browne, Global Director of GAC Bunker Fuels.

London, 22 March 2011 – KPI Bridge Oil, a leading global bunker broker and trader has appointed Miss Carmen Poh as Bunker Trader in its Singapore office. Carmen Poh has obtained a diploma in accountancy and has been an ACCA member since 2004. Before joining KPI Bridge Oil, Carmen spent 6 years with PriceWaterhouseCoopers LLP as a Senior Associate working on various assignments across Asia. Carmen, 30, is from Singapore and fluent in English and Mandarin. Kelvin Yeo, Managing Director…

OceanConnect announced that Henning Jensen has joined OceanConnect, effective immediately. “We are extremely pleased to welcome Henning to OceanConnect,” said OceanConnect CEO Thomas K. Reilly. “It’s a tribute to our organization that one of the world’s leading bunker traders has chosen to join OceanConnect. Henning’s expertise will benefit our worldwide customers,” Reilly continued. “During Henning’s 20+ years of bunker trading he has spearheaded many new bunker operations. We are very confident that he will be able to repeat his considerable successes in his native Denmark.”

The 12th Singapore International Bunkering Conference (SIBCON) 2002, to be held from September 26-28, 2002 at the Shangri-La, Singapore, will be officially opened by Mr Khaw Boon Wan, Senior Minister of State for Transport, and Information, Communications & the Arts on 26 Sep 2002. Khaw would also be delivering the opening address for the ceremony. This biennial event will bring together some 25 maritime and marine fuel experts from around the world to speak on the latest international trends and developments in bunkering, and the challenges facing the industry. They represent the oil majors, shipping lines, bunker traders, bunker suppliers, and classification societies.