Bunker Demand May See Double-Digit Fall From COVID: IBIA

Global demand falls on Covid-19 impact. File Image / Pixabay.

COVID-19 could mark an overall double digit drop in bunker demand, the director of the International Bunker Industry Association (IBIA) has said.

Unni Einemo, who was participating in the Platts APPEC 2020 online event, said that while some markets posted big falls in first half year sales compared to a year ago, other ports, such as Singapore, stood their ground, according to maritime news provider Lloyd's List.

Einemo suggested that Singapore's strong reputation as a safe place to bunker lent the Southeast Asian bunkering hub support during the downturn prompted by pandemic measures.

"Buyers are confident they will get the quality and quantity of bunkers they are after at Singapore," the IBIA director was quoted as saying.

However, global demand for bunker fuel over the year is likely to be down by from anywhere between 7% to 17%, Einemo told the conference.

Participants in IBIA's own virtual conference, which takes places on November 3 to 5, can expect to hear in-depth analysis from the industry's leading voices on the latest market trends.

The global convention, being held online this year for the first time, will cover three days from November 3.

In addition to attendance, there are a number of opportunities now open to participate in the IBIA Annual Convention 2020:

Sponsorship opportunities (More details here: https://bit.ly/IBIASponsorship)
Host a Virtual Exhibition Booth ((More details here: https://bit.ly/IBIAConvention2020-VEB)
Deliver your own on-demand presentation
Participate in a regional or global panel discussion
Those interested in speaking opportunities can contact Sofia Konstantopoulou by email at: Sofia.konstantopoulou@ibia.net.

Those interested in sponsorship opportunities can contact Paul Davis by email at: pd@shipandbunker.com.