Vernon Jayanathan. Image Credit: Maritime Recruitment Company Limited

Whilst wandering about over the latest IE week I spoke with people from numerous tech firms that were looking to make their mark on the industry. They ranged from innovative start-ups to more established firms who all had one thing in common: They all oozed real confidence and ambition.

Be it leveraging artificial intelligence, big data analytics, or digital procurement systems, all of these firms are aiming to bring real disruption to the status quo of bunker trading.

At the same time, traders must also contend with growing regulatory pressures. Most immediately, the sanctions compliance landscape is evolving at pace, alongside associated market volatility driven by geopolitical events.

As industry decarbonisation advances, traders must navigate new environmental rules, the shift to alternative fuels, and the supply-chain changes these fuels are likely to bring.

As a recruitment specialist in these changing times I am often asked how the skill set of traders is evolving, particularly in relation to new technologies and systems. Many candidates feel they must already be familiar with these technological advancements or risk obsolescence.

And it is not unreasonable to think success hinges on a blend of technical acumen, adaptability, analytical prowess, and a holier than thou ethical grounding.

Now the idea of technological proficiency being a non-negotiable is frightening to many - especially those like myself who can remember the last Iranian revolution. Personally, I even struggle at times to operate the TV remote much to the frustration of my children.

Would someone with my level of technological inaptitude stand a chance of surviving as a trader now? One would be tempted to say no, but that is not the reality that I see today.

Yes, numerous new platforms now exist that can provide AI insights into market developments, supply-demand fluctuations, and predictive analytics for forecasting trends. Blockchain and E-BDN technology can amplify transactional transparency to help resolve delivery and compliance disputes. There is more technology being used in bunkering today than at any time in history.

However, from the traders I have spoken to only about 1 in 10 said they used AI or any kind of sophisticated technology at all. Instead, they still rely on establishing and nurturing relationships with customers the old fashioned

However, not one person i spoke with has requested or been asked for technical proficiency in any of these areas, let alone stated that these skills are job winning criteria.

The same applies to knowledge of future fuel fuels. The energy transition is real and it is happening. But it is happening very slowly. Look no further than Ship & Bunker’s recent analysis of the global orderbook - over 80% of bunker demand from recent orders were for oil-powered tonnage. It will be of no surprise then that from my experience, requests for candidates with expertise in future fuels - even biofuels - are rare.

I am in no way saying all these technological changes will not make a difference. Nor am I saying the industry should ignore future fuels. Far from it. The industry is changing and we must expect the role of the trader to change accordingly. But this is the reality that I see in the job market today.

An understanding of, and acceptance of, issues around sustainability is of course very important. So is an appreciation of technology, along with overall industry digitalisation. Shipping has very much started its transition to using new fuels and is exploring new supply chains for alternatives like LNG and biofuels. All traders need to have awareness of these things. But again, from my experience, any expertise in these areas has not really come up as a criteria in many of my job briefs. A couple yes. But not many.

To quote Sam Cooke, ‘a change is gonna come’. But that change is not something traders need to panic about.

If I had titled this article, “What Skills Do You Need to Be a Successful Bunker Trader Tomorrow?” my answer would be very different.

But the skills that employers actually want today? 

• A commercial mind set
• Expertise in negotiation
• Cultural sensitivity
• Relationship-building
• Integrity

These human elements remain indispensable and foster trust in a global, diverse market. From what I see, they are still the winning criteria when it comes to getting a job in this industry.

If you are a bit of a laggard, it is important to be aware of what is ahead but for now at least, pour yourself a Southern Comfort and play your David Bowie LP. You are Okay for now.

vernon@maritimerecruitmentcompany.com