Experts to discuss bunkering issue
Dubai , May 20, 2012
Bunker and shipping experts from the region will debate how to improve services and operations in the industry at a conference in Dubai.
Rescon, the Red Sea and Gulf Bunkering Conference, will take place at the Mövenpick Hotel Jumeirah Beach, from May 21 to 23.
Bunkering, the supply of fuel for ships, is a major industry in the Red Sea and Gulf region, as international freight passes through the global shipping artery of the Suez Canal. While UAE’s Fujairah Port is the second largest refueling port in the world, many other ports in the region are also boosting their services to meet international demand.
Bunkers are the largest cost to any ship owner or operator and so pricing strategies along with many other elements such as more stringent global sulphur regulations, piracy prevention, advances in technology, specific port improvements and hedging strategies to reduce risk in the market will all be discussed by the region’s specialists at the conference.
Speaking at the conference will be Jan Jacobsen, CEO of Monjasa, supplier of oil products worldwide and headline sponsor of the event.
“The bunkering sector is an important, dynamic, driving factor which is a strong industry to any country’s import and export activities. But the real benefit is job opportunities that it gives to those in the region, the ability to serve big shipping lines and community developments through education in international shipping,” said Jacobsen.
The recent sanctions on Iran will also be considered and how the industry has adapted to it.
“The bunker market is growing day by day and more participation from international players is making it competitive global market for the rest of the world. Bunkering is a requirement of every ship and due to the cost impact, ships refuel at the most competitive ports which the Middle East is able to offer currently,” said Kalrav Dixit, group trading manager at Gulf Petrochem, also one of the speakers at Rescon. – TradeArabia News Service