Singapore: With further details of what the new Singapore mass flow metering systems will entail due to be announced at this week’s giant SIBCON bunkering show, one leading name in the sector warns the new technology will not solve bunkering quantity and quality issues immediately.
Speaking to our sister site, Maritime CEO, Lars Moller, ceo of Dynamic Oil Trading said that the accurate measurement of bunker deliveries is a long-standing issue for the industry and while mass flow meters cannot solve the problem overnight, they represent an important step forward in the industry’s ability to ensure the quantity of fuel delivered, which benefits both the fuel supplier and the customer.
Moller also said he was convinced the bunker industry is set for consolidation.
“Continued demand for credit will lead to more consolidation among bunker companies in Singapore with suppliers lacking strength and access to capital loosing out to financially robust organisations offering better terms,” he said, adding: “This trend will become more acute following the introduction of the 2015 ECA regulations due to increased distillate use. Customers operating in ECAs and burning distillates to comply will require significantly more credit than those operating outside ECA waters.”
Moller was one of more than 100 people contacted for a bunkering magazine our sister title SeaShip News has just released. The full magazine can be accessed for free here while the full interview with Lars Moller can be read here. [13/10/14]