EMEA News
Istanbul Continues Record Bunker Sales Streak
Istanbul's record year for bunker sales has continued over the first five months of 2018, according to the latest data from the country's oil authority Enerji Piyasası Düzenleme Kurumu (EPDK).
Sales for the January to May period totalled 1,245,000 tonnes, up 15% from the 1,080,000 tonnes sold during the period in 2017.
The total means the key Turkish port has seen average monthly sales for 2018 of around 250,000 tonnes, having previously reported sales first four months of 2018 broke 1 million tonnes for the first time in its history.
"High quality, reliable bunkering, and committed suppliers help grow Istanbul every year," commented Mustafa Muhtaroglu Founder and CEO of Turkish physical supplier Energy Petrol, who was discussing the drivers behind the growth.
And Muhtaroglu, also recently elected to Assembly of Turkish Chamber of Shipping, says local players remain bullish on the outlook for the market ahead of the upcoming global 0.50% sulfur cap on marine fuel that comes into force from January 1, 2020.
As reported in June, a local players including Arkas Bunker, Petrol Ofisi, Socar and Energy Petrol came together to form the IstanbulBunker2020 Committee under the Turkish Chamber of Maritime, to prepare for the upcoming "IMO 2020" rules.
