MOL will watch bunker supply from June as Middle East supply disruptions continue

[SINGAPORE] Japanese shipping behemoth Mitsui OSK Lines (MOL) will have to watch marine fuel supply from June as oil flow from the Middle East is disrupted by military actions, said the company’s new chief executive officer, Jotaro Tamura.

The industry is concerned about the shortage of bunker fuel in this “probably unprecedented” situation, he told The Business Times in an interview on the sidelines of the annual Singapore Maritime Week.

MOL has secured its marine fuel supply for April and May as bunker trading is typically done one to two months in advance, added the shipping veteran of over three decades, who took the helm at the group on Apr 1.