Vernon Jayanathan is director of Maritime Recruitment Company Ltd. Image Credit: Vernon Jayanathan

Losing a job in this industry is common, and it does not define your long-term prospects. Firms fail, desks close, and headcount moves with the cycle. What matters is how quickly and how well you re-enter the market.

The starting point is to recognise what you have to offer. This industry remains relationship-driven and relatively specialised. Portfolios of clients and suppliers, local market knowledge, credit risk management, and execution skills all transfer well. Past downturns show that many traders land new roles quickly after firm failures or layoffs, sometimes with better pay or titles than before. The market will remain active as long as ships need fuel.

Before any of that, handle the immediate practicalities. Read your employment contract carefully: severance pay, notice period, non-compete and non-solicit clauses, and any garden leave provisions. Consult an employment lawyer if the terms look aggressive or unclear. Apply for unemployment benefits promptly where available; if you have paid into the system over the years, this is the time to claim something back.

Secure your references early, and maintain professionalism in all exit communications no matter how the departure played out. This industry is small, word travels fast, and a reputation for bitterness follows you into every interview.

At the same time, take control of your personal finances and treat it like managing a book: cut discretionary spending, know your monthly burn, and extend your runway. A trader distracted by money problems at home cannot give the market, or an interview, their full attention. A longer runway also means you have time to find the right role rather than grabbing the first offer out of necessity.

Then work the market the way you would work a book. Reconnect with former colleagues, suppliers, clients, and contacts. Many bunker roles are filled through relationships rather than open adverts, and opportunities regularly come from unexpected quarters, so talk to everyone. After starting out on my own with Maritime Recruitment Company, my first assignment came from a conversation with someone I barely knew at the time.

Update your CV and your LinkedIn profile, and make sure one mirrors the other. Focus on P&L ownership, client growth, market knowledge, and track record. Quantify everything: volumes traded, margins generated, new accounts opened, regions covered, risks managed. Highlight the transferable strengths this industry values: relationship management, negotiation under time pressure, fuel quality knowledge, operations coordination, credit assessment, and market analysis. 

Do not write bitter posts about a former employer on any platform and watch what you say to others, even in confidence. Again, this industry is small, word travels fast.

Once all that is in place, approach the specialist recruiters who cover marine fuels. This is also the moment to decide how wide to cast the net. You might stay in bunkers, either in the same trading, broking, or physical supply role you have been doing or moving across into another. Alternatively, you could branch out into adjacent commercial roles in related energy trading, shipping or chartering.

When the interviews come, prepare properly. Study current market conditions and be ready to discuss how you would generate and protect margin, manage counterparties, and handle operational issues. Be open-minded about the type and size of firm, and do not turn your nose up at short-term or contract roles if permanent options move slowly; they bridge income and keep skills sharp.

Treat the search itself like a full-time project, with structure and daily targets. Stay physically and mentally steady: exercise, keep your routines, and lean on trusted contacts. The personal hit of being out of work is real, and anyone who tells you otherwise has not been through it. But the practical response is the same regardless: protect your position, package your record, and work your network.

The bunker market continues to need traders because global shipping does not stop. Most who find themselves out of a role are re-employed within weeks to a few months, frequently at comparable or higher levels. Approach the search with the same discipline you would bring to the desk, and the odds are firmly in your favour.