IMO2020: Bomin Sees Opportunity Ahead

Tuesday July 17, 2018

Bunker company Bomin believes that the coming sulfur cap change will mean a new modus operandi for bunkering companies.

In an interview with Ship & Bunker, Bomin Group managing director Jan Christensen said that he recognised the uncertainty among shipowners and operators on how best to respond to the 0.5% sulfur cap on marine fuel.

And given that the bunker fuel rule change in Christensen's eyes "represents the greatest transformation for the shipping industry since it moved from coal to fuel oil 80 years ago", uncertaintly is to be expected.

But with 'not knowing' comes a greater need for information on the range of strategies on offer.

"Owners and fuel players need advice and counsel on their bunker purchasing strategies," Christensen said.

"They need solutions that ensure compliance, mitigate risk, and keep their costs as low and as manageable as possible.

"This is a real shift for many bunkering companies, who have to move from a purely transactional approach to doing business to a more strategic model, where value for customers goes way beyond just the basic price or quality of a product. 

"For companies such as Bomin that can provide these services, there will be substantial opportunities," Christensen said.

Bomin has said that it is considering bespoke deals with customers for its 0.5% products.

From the start of 2020, all ships must use bunker fuel capped at 0.5% sulfur or have the necessary equipment installed to remove excess sulfur.

From 2020, market observers say that in the short to medium term, ship operators will be engaging with a multi-fuel environment which is a more complex market that they have been used to dealing with.