shipping and bunkering report 2014
DESCRIPTION
View RESCON's brand new infographic which demonstrates industry reactions to the biggest challenges of 2014 including: • The impact of the new sulphur regulations on companies • LNG as an alternative fuel for bunkering • Testing methods for fuel quality • Terms and conditions • Detecting market shifts in order to stay on track • Risk mitigation to ensure safety PLUS: View the Top 11 Bunkering Trends infographic today. http://www.gulf-bunkering.com/2014/TRANSCRIPT
The impact of the new sulphur regulations on companies is considered by shipping operators:
Significant impact
Not strongly affected
Little impact
52%
26%
11%
ShippiNg aNd BuNkeriNg reporT 2014
detecting market shifts can be a deal breaker in the bunkering business. The best methods used by companies to stay on track include:
risk mitigation is vital for a successful business, and companies practice different methods to ensure their safety:
With this lack of satisfaction about insurers, companies adopted their own methods of preparation for various risks:
due to the current market shifts, the majority of bunkering professionals had a high level of awareness about insurance policies:
While reviewing terms and conditions is vital for the success of the business, the frequency of the practice does not reflect that:
once a year
52%When some clauses
are missing
41%other
26%very two years
15%Never
15%
Testing is crucial to ensure fuel quality, and some of the best methods to do that are:
The bunkering industry is facing numerous challenges, including:
New sulphur regulations
locating reliable suppliers post infrastructure Fuel testing
33% 26% 18% 11%
11%
Word ofmouth
30%Feel of the
market based on
experience
70%detailed analysis
by trusted sources
analytical expertise
60%
Cutting edge technology
37%
analytical tools
19%
Fixed price agreements
30%
risk management strategies
44%!
accurately assessing energy prices
52%
70%have sufficient knowledge
30%require more information
however, the level of satisfaction with current insurers fluctuated:
Satisfied and don’t intend to change
Satisfied but open to new options
Not satisfied but not looking for new options
actively looking for new options
33% 33% 11% 11%
risk assessment & management Market analysis
Monitoring industry developments
With the current status of the bunkering industry, some of the advised methods to detect market shifts and prepare for changes include:
Market research
Monitoring market news & development
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Three eaSy wayS To regiSTer:
Leading shipping lines, port authorities, regulatory bodies, senior bunkering manag-ers and economic experts from across the bunkering industry will be attending and
discussing key challenges affecting the industry at reSCoN 2014Join us on 28th September – 1st October in Dubai
[email protected] www.gulf-bunkering.com+971 4 335 2437
problems withLNg logistics
52%Lack of infrastructure for LNg importation
41%Supply of LNg
26%demand difficulties
15%
LNg is better for the environment, yet there are challenges in using it still prevail: