Bunkering set to weather challenging times

WE ALL knew that, from Jan 1 this year, the shipping industry and the bunkering sector in particular would have to cope with the implementation of the International Maritime Organization (IMO) 0.50 per cent maximum sulphur in fuel regulation.

What of course we didn't know was that coronavirus would plunge the world economic system into turmoil. We also couldn't have predicted that one of the big players in the Singapore oil trading and bunkering scene would get into serious financial problems.

There can be no doubt that there are challenging times ahead but the industry is robust. Globally there probably will be financial casualties among shipping companies and bunker suppliers but in general the industry will get on with it and cope. As it always does.