World News
OW Bunker Wants Bunker Claims Below 1%
Global marine fuels and lubricants supplier O.W. Bunker & Trading A/S (OW Bunker) has announced the launch of new quality control standards which it says is part of its strategy to drive its annual global bunker claims below 1%.
OW Bunker said it will perform "pre-testing analysis" on fuel issued to its customers who will be provided with a specification analysis for a minimum of 90% of all physical product orders.
This would happen before, and in addition to, the usual testing procedures conducted by an external fuel oil analysis provider
"Claims are expensive for all parties and something that ship owners can ill-afford in the current economic environment. Pre-testing analysis reduces unnecessary claims and saves customers' money," commented Jan Christensen, Vice President, Physical Division, OW Bunker.
OW Bunker said the move is the first in a series of global standards being introduced by OW Bunker's physical division and further standards would be launched over the next six months.
Fuel quality came under the spotlight last month when Rahul Choudhuri from DNV Petroleum Services (DNVPS) told the International Bunker Industry Association Asia bunker forum that approximately 10% of Emission Control Area (ECA) compliant 1.00% sulfur 380 cSt bunker fuel is off-specification and does not meet the 1% sulfur limit.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 594.50 | 2.50 | 705.00 | 16.00 |
| Rotterdam | 520.50 | 5.00 | 665.00 | 13.00 |
| Houston | 531.00 | 19.50 | 684.50 | 8.00 |
| Fujairah | 580.00 | 4.50 | 760.00 | 4.00 |
| Global 20 Ports Average | 599.00 | 1.00 | 755.50 | 3.00 |
| Global 4 Ports Average | 564.50 | 0.50 | 704.00 | 0.50 |
| Global Average Bunker Price | 646.00 | 1.00 | 813.00 | 1.00 |
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