Unicore Fuel, a subsidiary of Denmark’s Bunker Holding Group, has launched its operations in Singapore, the world’s largest bunkering port.
It is a question often asked – how many people outside the ports and shipping industry actually give any thought as to how their food, clothes, fuel and other items find their way across the world to appear on the shop shelf or petrol forecourt?
Shipping in Europe, and particularly in the UK, is being crippled by over-zealous environmental measures from the EU, and paralysis at the IMO, UK Chamber of Shipping director David Balston claims.
Singapore-based marine fuels supplier Alliance Oil Trading (AOT) has given up its accredited bunker supplier licence as it is in the process of winding up its business.
The trend of bunker fuel prices in the past 12 months has been a positive one for shipowners with prices softening after a high last February. This was especially welcome during a time when high fuel costs have been one of the key challenges for the shipping industry.
Additional fuel bill costs of $600,000 to $1m a year for switching to cleaner fuel for vessels when legislation to make it mandatory kicks in next year may force lines to switch from Hong Kong to neighbouring Shenzhen, according to local media reports.