Kenneth Dam, spoke at SIBCON in Singapore on the panel "Geopolitics, Trade Disruptions and IMO Developments – Dealing with Market Uncertainty"

This week, our Global Head of Bunkering, Kenneth Dam, spoke at SIBCON in Singapore on the panel "Geopolitics, Trade Disruptions and IMO Developments – Dealing with Market Uncertainty".

Key takeaways:

The industry must come together to standardise. We need to find a joint path to a standardised way of running bunker operations instead of a different system in every port. The Maritime and Port Authority of Singapore (MPA) has shown it can be done.

Mass flow meters save time and money. With freight rates higher than ever, every hour in port counts. Measuring by mass flow meter instead of dipping tanks speeds up bunkering and allows early departure, saving vessels hours in port. Singapore has the right approach - dispute rates there are far lower than in the wider market due to the use of mass flow meters.

Readiness is the job. The disruption that began in late February turned a quiet market into a volatile one, with high prices and supply gaps. After COVID and Russia-Ukraine, we were prepared: using data and systems to tell us where to position supply ahead of vessel flows. We are now able to adjust within a day to meet coming demand.