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Friday, September 21, 2018

4250 bunker short deliveries during June 1997

Of the approximate 17,000 bunkerings that took place during the month of June, an estimated 25% were significantly short on quantity. Capt. Robert Bishop, of INTERTANKO publishers of the White List says: "The risk of being shorted on bunkers has increased from 20% to around 25% in the last two years".

Bunker Buyers who did not independently check their suppliers before ordering are likely to have paid for part of the estimated $6.5 million worth of short deliveries last month.

Capt. Bishop continues: "The average size of these short deliveries came to $1530 last month. That is more than an annual subscription to INTERTANKO’s White List, which tackles this problem head on."

INTERTANKO’s members spend between $4.5 billion and $7 billion on bunkers every year. This is by far the largest group of bunker buyers in the world. INTERTANKO’s White List will keep pushing the issues related to short deliveries. Bishop concludes: "With the White List we aim to help our members save at least $15 million this year."

Some demonstrated savings from using the White List in July 1997:

on a 1000 metric tonne bunker stem at $105 per ton, FOB:

Rotterdam $6,175
Houston $3,050
Singapore $5,890
Hong Kong, China $4,620
Panama Canal $1,730
Fujairah $2,000
Suez Canal $2,600
Jeddah $4,900

(Examples are taken from INTERTANKO's "WHITE LIST" no 88, July 1997.)

For more information contact:
Capt. Robert M. Bishop
tel: +47 2212 26 40
Direct Line: +47 22 12 26 70
Mobile: +47 92 88 62 71
fax: +47 2212 26 41

Mikal Bøe
tel: +44 181 400 6106
fax: +44 181 995 2566