Now in its seventh year, the Middle East Bunkering Convention returns to Dubai in March 2022, providing a key forum for lively and informed discussion about the state of play for the bunker industry and wider shipping markets as global trade adjusts to the constraints and challenges caused by the COVID-19 pandemic.
As always, MEBC will look at the issues that have an impact on bunkering in the Middle East, whilst providing a useful and comprehensive overview of the global marine fuel supply and demand picture.
The pandemic continues to disrupt commerce and trade flows and the shipping market is in a state of flux as it tries to recalibrate and adjust to the ‘new normal’. The container and bulk segments are booming but other sectors are still hoping for a bounce back. The bunker business has coped well with the recent volatility in the shipping market but bunker demand has not yet returned to 2019 levels and the spectre of a credit squeeze, although deflected after the introduction of the 0.50% global bunker cap in 2020, still remains.
The way the bunker sector goes about its business is also changing, with digitalisation playing a larger role in commercial transactions and areas such as fuel consumption optimisation and the requirements for compliance becoming ever more stringent. The marine fuels sector is experiencing unremitting pressure to be more transparent in its commercial and operational practices.
The Middle East market is also experiencing change and growth in the refining and port sectors, and new alternative bunker fuels are emerging on the horizon to enable compliance with IMO greenhouse gas reduction targets.
MEBC 2022 will bring together industry experts to explain what the ‘new normal’ may be for the bunker business and to share their insights on fuel quality, legal issues, commercial and technology developments, and the future supply and demand landscape.
If you are interested in speaking or joining a panel discussion, please email LBH@petrospot.com