About This Event

2005 saw global bunker prices rise on average by around 60%. A buoyant year for ship operators did not disguise the fact that ship fueling costs spiraled to equate to between 30 and 60% of ship operation costs.

Set in the world's largest financial district, 'Squeezing the bunker barrel' tracked the course of a barrel of bunker fuel from the refinery to the smokestack and explored the associated costs, its relationship with crude, price rises and volatility.

With an array of experts in their fields, this forum provided the knowledge tools to secure value and performance in marine fuel procurement to provide a comprehensive procurement strategy.

Rising fuel costs has become the key issue facing marine fuel purchasers, as Bunkerworld has reported:

• Bunker costs induce 96% drop in profit for carrier firm (August 8, 2006)
• Chemoil advises on new US bunker delivery tax (July 19, 2006)
• OPEC official admits cartel is 'powerless' to lower prices (July 18, 2006)
• Fuel costs will hit earnings even if freight rates recover (June 8, 2006)
• Bunkers take big bite out of NOL Group's Q1 result (May 11, 2006)
• K-line: Rising bunker prices shaved $228.5 million from profit (May 11, 2006)
• Bunker gloom and rate doom weighs on shipping (May 10, 2006)
• Bunker costs cut 40% profit for shipping firm (May 9, 2006)