KPI OceanConnect Saw Volumes Gains in Q2 as Global Market Declined

by Ship & Bunker News Team
Wednesday October 5, 2022

Hybrid marine fuels firm KPI OceanConnect saw modest overall gains in its bunker volumes in the second quarter, with steep rises in some regions pared by drops elsewhere, as the overall market declined.

The company's global volumes climbed by 2% in Q2 compared with Q1, CEO Anders Grønborg told Ship & Bunker by email. Grønborg took over as CEO last month.

The global market dropped by 5.3% on a quarterly basis in Q2, according to Ship & Bunker and BLUE Insight's market survey of volumes in 17 leading bunkering areas.

Grønborg set out the following quarter-on-quarter volumes moves for the firm in the second three months of the year:

  • ARA +9%
  • Asia +18%
  • Singapore +19%
  • US East Coast and Gulf of Mexico: +25%
  • Mediterranean and Black Sea -5%
  • Middle East -16%
  • Gibraltar -21%

"Shifting trading patterns and the impact of the war in Ukraine will continue to create volatility, as well as increased complexities and risk within the bunkering sector," Grønborg said.

"In this kind of market, it becomes even more critical for ship owners and operators to work with trusted and transparent partners that have a global focus, flexibility and financial strength to quickly respond to rapidly changing dynamics, while providing the right fuel procurement solutions for customers.

"We certainly do not anticipate this situation changing in the short-term, and will continue to guide our customers through these transformative times."

Ship & Bunker News Team
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