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Home ShipmanagementBunkering Prime’s Bunkersplus News Highlights – November 2020

Prime’s Bunkersplus News Highlights – November 2020

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Irene K. Notias

Prime’s Bunkersplus News Highlights – November 2020

From our office to yours,   Καλό μήνα!      Tues, Nov 3, 2020   

Dear Valued Client: Bunker Buyer, Principle, Charterer, Operator

Bunker industry personnel have been so busy preparing for IMO2020 that they have been a missing link from the Shipping Forums organized in the last 3 years anticipating the new low sulphur compliant fuel entry.  Prime’s POSIDONIA 2020 (It’s time to talk) fuel webinar on facts and tips regarding the handling of the new fuel VLSFO 0.50% is an excellent attempt to fill a part of that gap.

As a prelude to Slide2Open Shipping Forum on January 26-28, 2021, Prime’s organized a webinar for POSIDONIA 2020 web series, targeting the Greek shipping community’s Fuel buyers, Charterers, Principals, Technical, Legal, Insurance and Accounting Department heads. Entitled Bunkers Today: “Bunker Industry experts confront the challenges of VLSFO 0.50% Dispersing facts, unveiling myths and safeguarding ethics”,  is the most recent seminar of the “Bunkers Today” seminar series that Prime’s organizes in Greece every two years.

Powered and hosted by Slide2Open’s portal, the bunker buying management service provider, Prime’s Bunkersplus responds to clientele queries about the unknown chemicals in the new fuel VLSFO 0.50% max sulphur, hence, potential claims.  Although the confusion has lessened, it remains that the new compliant fuel uncertainty makes it sometimes unfit for purpose.  What do we do then, ask the end users of the product?

Like the Abbot & Costello skit during the webinar’s intro, there has been a mildly comical confusion in the shipping industry about “who” is the authority (IMO or States) and “what” is the standard for this new fuel; as serious as these issues may be, Prime’s webinar organizer, Irene Notias, thought of this contrast in order to lighten the viewer’s stress level with comedy besides knowledge.

Speaking of which, knowledge is everything and why Prime’s gathered a few well-known in the bunker industry experts to provide facts of the current case and offer some tips.

Watch the video for your first-hand experience, using the below guide for each speakers’ main point.

Note that evidently suppliers are experiencing the same woes as owners because the new fuel product’s origins and blend are at the root of the problems and out of their control.  Watch the webinar and learn why.

The Premier took place on Fri., October 30, 2020 15:00 – 16:15 hrs ΕΕΤ

VIEW AGENDA: https://www.slide2open.net/wp-content/uploads/shippingfinance2021/posidonia-prime-webinar-2020/PRIMES_EVENT_DEBUNKING_BUNKERING_MYTHS_30102020_AGENDA.pdf

VIEW REPLAY: https://www.slide2open.net/en/shippingfinance2021/prime-s-bunkersplus-posidonia-2020-webinar/

Upon watching the webinar your questions, comments and feedback are welcome at: bunkersplus@primeinc.gr

Speakers’ main points:

Who’s on first – Welcome and Introductory remarks about fuel procurement dynamics
Irene Notias, Managing Director/Sr. Bunker Broker, Prime’s Bunkersplus Services
“I think it’s prime time we (brokers, shipowners, suppliers) enforce a trust between the suppliers and the buyers…cooperate and … have understanding basis knowledge.”  

IMO2020 compliant fuel: Quality, Claims and Solutions – Tips, dos & don’ts
Chris Fisher, Consultant Fuel Specialist, Marine Engineer, Brookes Bell LLP
“If you’re a buyer, look for the good supplier and some easing on the general terms and conditions.”

Supplying Bunkers – off spec uncertainty & new product blends
Christian Kint, CEO, Oilchart International NV (Physical Supply in ARA area)
“We are very aware that we have a big responsibility and put all our efforts.” Don’t miss what he says about the reason for the quality claims in ARA being the blends and at origin no sampling allowance.

Bunkering Suppliers Unity in Turkey
Mustafa Muhtaroğlu, CEO, Energy Petrol Shipping Trade & Industry, Inc.
“We work with authorities especially customs…all refineries and oil terminals are installed with mass flow meters and customs seals barge tanks.. all products are tested and improved by customs…we have no off spec … no quality claims… We are a very good example for working together under the chamber of maritime.”

Bunkering in Panama & Singapore delivery practices
Nicolas Vukelja Duque, CEO, Terramar Oil & Services
Implementing Singapore delivery methods…the local authorities needs to authorize their implementation in the bunker market…all bunker claims were handled case by case.” 

Barging Licenses & Practices in Piraeus Port
Alexandra Gana, Operations Manager, Ganmar Shipping
“Over-regulation is not a solution. We need to (foster) implementation, knowledge and trust.”    

Mathematics Lesson – 13 x 7, Abbott & Costello: A must watch to learn to add!
“You owe me …13 weeks at $7 a week”  

Credit Management Paranoia & useful tips 
Paul Millar, Credit Director, Bunker Credit Management Ltd., Bomin Bunker Oil Corp.
Talks about how things have changed for bunker credit managers, ever since IMO2020 and COVID pandemic and how buyers can help themselves. “Ease the paranoia by creating a credit memo to provide to the credit agencies and sustain your bunker financing.”

Education, Bunker Delivery Standards (Ethics) & Licensing 
Nigel Draffin, Bunkering issues Consultant, Board Member & Honorary Treasurer, IBIA
“First thing…the most effective way to bunker a ship is when the receiver and deliverer understand their responsibilities…respect for your counterparties part of the mix…all parties are properly trained and that means education.”

Closing Remarks
Irene Notias, Managing Director/Sr. Bunker Broker, Prime’s Bunkersplus Services
“Thanks to the speakers, co-sponsors and wish you all to stay healthy, happy and always look to the good.”

BUNKER PORT PRICE DIFFERENTIAL LIST : (basis indics, Nov 3rd)

PORT VLSFO max L/S 0.50% RMG380 DIFFERENTIAL MGO max L/S .10% DIFFERENTIAL
SINGAPORE $328.00 $277.00 51 $342.00 -14
FUJAIRAH $340.00 $435.00 -95
ROTTERDAM $303.00 $260.00 43 $325.00 -22

Find compliance info and daily ports bunker price indications at www.primeinc.gr, or Join BPi www.bunkerspot.com/bpi, for much more ports price info and analysis.

Prime’s is one of the oldest and independent bunker buying management service providers, situated in Greece and supported by the best Greek shipping companies around. It is a facility that provides accurate information, quality fuel products, supplier credit lines and peace of mind to bunker buying procurement departments.

Backing clients’ needs holistically, we educate our clients about the bunker industry dynamics and how to help make intelligent buying decisions that achieve cost savings.

Join our family of clients in our IMO2020 VLSFO BLOG. LinkedIn page: https://www.linkedin.com/company/prime-s-bunkersplus-services/.  Share and pool ideas for the sake of sustainability.

Meet Prime’s team @  http://primeinc.gr/#people

During this pandemic period, we want to know you are okay, so pls send a return reply email, stating: “staying healthy”.

We are standby for your bunker fuel and Lubs procurement needs, making your work life easier, so you can optimize on your efficiency.

Thank you for your confidence. We remain,

at your service,

Irene Notias
Prime’s Bunkersplus Services
Your Bunker Buying Management Service Provider 

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