Bunkering Should Embrace Professionalism, Leaders say

Thursday November 8, 2018

The bunker industry should be looking to embrace professionalism in the years ahead, top industry executives have said.

Keld Demant, who heads up the Bunker Holding Group, told the International Bunker Industry Association (IBIA) conference leadership debate that the industry needs an "increase in professionalism" and that he could see a useful role for IBIA to move this process forward.

He said that the industry should be open to new ideas and opportunities and be "partnership oriented".

One issue that is going to be of major concern in the industry is access to credit.

"Credit is going to become a scarce resource post-2020," Demant said.

The point was picked up by Monjasa's chief operating officer, Svend Stenberg Molholt, who said that access to credit should not be a problem for bunker companies that have built up trust with finance institutions.

Companies need to look to their business models, and be prepared to open them to scrutiny. If the banks like what they see, credit should not be a problem.

Companies need to "re-engineer" their business models to thrive, he said.