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Fundamentals of Bunker Supply, Demand, Pricing & Operations

Mennta Energy Solutions
Course summary
2 days
2,020 GBP
English
London
Next available date: 09/06/2020 09:00 - London
Open / Scheduled

Course description

Fundamentals of Bunker Supply, Demand, Pricing & Operations is a two-day instructor led course presented by the energy training experts at Mennta Energy Solutions. Developments in the bunker fuel market are one of this year’s hottest topics. The implementation of IMO’s global ban from 1 January 2020 on sulphur emissions greater than 0.5% has raised a number of questions over:

  • the future availability of new very low sulphur fuel oils (VLSFO)
  • price differentials between marine fuels
  • the alternatives to burning VLSFO
  • the stability, miscibility, sampling and compatibility testing of new fuels
  • fuel standards and test methods

In addition, moves are underway in the shipping industry to reduce levels of greenhouse gas (GHG) emissions. Apart from considering ship design and operations, this involves consideration of fuels derived from renewable resources including certain sources of methanol, biofuels, ammonia and hydrogen. Shipowners are already participating in projects to develop such fuels. The relevance of this is that new vessels ordered in the next decade will still be around in up to 20 years time or more.

This is an intensive two-day course covering bunker fuel demand and supply, pricing, physical and paper trading, bunker buying, legislation, blending and testing for quality. Presentations by a team of experienced industry experts are combined with exercises and case studies as part of the training experience.

Suitability

This course will be of interest to anyone involved in the planning, buying and selling of bunker fuels, physical and paper traders, brokers and ship operators – or participants whose organisations offer services to this industry.

Content

Bunker Fuel Supply

  • The nature of crude oil
  • Refining – capacity and fuel production                    
  • Fuel manufacture                                
  • Refinery upgrading                            
  • Future refinery operations                            

Bunker Fuel Demand

  • Sectorial fuel use                                
  • Regional fuel use                                
  • Future trends                                
  • Demand shifts                                
  • Demand and supply balances                                

Pricing

  • Fuel and the refinery economics
  • Specifications                                
  • Characteristics affecting price                
  • Pricing methodology                        
  • Price variations                        
  • Fuel cracks                            

Price Drivers

  • Fuel oil trading including blending and an overview of hedging, storage, arbitrage and spreads
  • The market participants                            
  • Physical trading                        
  • Derivative trading                        

Structural Changes

  • Bunker specification changes                            
  • Emission trading – overview                        
  • Future pricing – overview                            
  • Buyers strategy                                

Regulations and Standards

  • Impact of changes in specifications
  • Alternatives – LNG bunkering, scrubbers
  • ISO 8271

Price Risk Management

  • Price risk management techniques                
  • Developing a bunker purchasing strategy what are the impacts for the suppliers                     

Metering and Claims Procedures

  • How does more accurate metering lead to better business        
  • When to mediate - when to arrest how to streamline claims procedures    

Bunkering Strategies for Ship Owners

Exercises and Cases Studies

  • Where and how much to bunker – a ‘real time’ exercise
  • Blending and Testing for Quality

About provider

Mennta Energy Solutions, formerly The Oxford Princeton Programme, addresses the knowledge gaps of energy professionals throughout the world with innovative and proven training techniques – instructor-led and online. The effectiveness of the training can be measured by the over 100,000...


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Mennta Energy Solutions

Oxford

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