Jamaica Outlines Ambition for Bunker Market Growth

by Ship & Bunker News Team
Wednesday April 18, 2018

The Jamaican bunker industry is set for a bright future as the country develops its status as a key regional maritime hub, says Dr The Hon. Andrew Wheatley, Ministry of Science Energy & Technology.

"We believe that based on our geographical location .... we are well poised to become a true logistics hub that is able to service the entire region, and I am sure bunkering will be a critical part of that ecosystem," Wheatley said today during his opening address for the IBIA Caribbean Bunker Conference.

It is expected that bunker volumes will reach approximately 1.9 million tonnes per annum (mtpa) by 2025, he said.

For context, 20|20 Marine Energy's Adrian Tolson, speaking at the same event, estimated the current demand for the wider Caribbean region at 2.7 mtpa and Jamaican demand around 0.4 mpta.

In addition to an increase in cargo activity at Jamaican ports in recent years, the Minister also noted an increase in cruse traffic and a "significant amount of interest" in bunkering over the last 5 years in particular.

"We see bunkering as a critical component of an aggregate of ship related services that will enhance the attractiveness of competitiveness of Jamaica as a premier shipping hub. In fact the promotion of bunkering is supported by our Vision 2030 national development plan," said Wheatley.

"This can only be achieved if the government introduces the necessary legal and administrative framework, and that is something that as a Government we are committed to do."