The results of the 21st February 2022 Board of Directors election of the International Bunker Industry Association were announced. We are glad to announce that our CEO Timothy Cosulich has been elected as IBIA Chairman. Timothy, who is currently the association’s Vice Chair, will take over as Chair of IBIA for a one-year term starting .
Bunkering Hubs To Grow Market Share As More Fuel Types Emerge
The recent trend of major ports taking a rising share of the bunker fuel market at the expense of smaller ports may be set to accelerate amid the increasing diversification in offerings.
“For buyers, that is driven by the quality of fuels [from] these key hubs and the quality [of] the supply chains,” Peter Beekhuis, head of trading for Maersk and responsible for the group’s physical bunker supply chain, said at a recent IBIA conference on April 12.
“There are decent inventories and the market is very competitive amongst suppliers,” Beekhuis said.