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Thursday, September 20, 2018

ABS joins INTERTANKO in fight against bunker short deliveries

INTERTANKO’s White List, the hard hitting bunker quality risk report now in its seventh year of publication, has received another vote of confidence from the markets. American Bureau of Shipping (ABS) joins INTERTANKO’s plight to combat unfair trading practices in the bunker market by contributing fuel testing data to the White List. Lloyd’s Register’s FOBAS (Fuel Oil Bunker Analysis and Advisory Service) the fastest growing fuel testing scheme, have supplied fuel data to the White List from the start in April 1990.

Capt. Robert Bishop of INTERTANKO says: "Our members buy more than one third of all the world’s bunkers, and it is quite unacceptable that they should be short delivered by unscrupulous bunker suppliers. INTERTANKO is taking a firm stand against this unfair trading practice and the support we now have from Lloyd’s and ABS goes a long way to achieving our goal."

Capt. Bishop continues: "Our members saved an estimated USD 13 million on bunkers last year as a result of using the White List. It is only a question of time before non-members realise the potential of what we are doing here. This is saving tanker owners a lot of money, and there is no reason why owners of other tonnage cannot benefit in the same way. After all, they use the same bunker fuel as tankers".

The addition of ABS fuel testing data to the White List has boosted the number of suppliers rated by over 10%. The White List now makes a positive evaluation of quantity risk from around 75% of all the world’s bunker suppliers.

Some demonstrated savings from using the White List in February 1997 on a 100 metric tonne bunker stem at USD 110 per ton, FOB:

Rotterdam USD 2,840
Houston USD 5,600
Singapore USD 6,340
Hong Kong, China USD 4,560
Panama Canal USD 2,050
Fujairah USD 2,450
Suez Canal USD 2,500
Jeddah USD 5,620

(Examples are taken from INTERTANKO’s "White List" no. 83, February 1997)

Membership of INTERTANKO is available to independent tanker owners (non-oil company and non-state owned).

INTERTANKO consists of:

255 owners with over 1,750 tankers, totalling 155 million dwt
representing 70% of the world’s independent tanker fleet
the members are based in some 41 countries world-wide
In addition the Association has over 210 Associate Members.
For more information contact:
Capt. Robert Bishop
Tel: +47 22 12 26 40
Fax: +47 22 12 26 41