Interview Session with Carsten Ladekjaer, the CEO of Glander International Bunkering:
What current issues are impacting your industry?
The IMO 2020 0,5% Sulphur cap applicable from January 1st next year is the most importance issue impacting the bunker industry short- and mid-term looking ahead.
What is the biggest challenge you are facing in your function?
Acting as bunker trading company, Glander International Bunkering is expecting the impact of IMO 2020 to be substantial. We usually divide the challenges into 3 main categories:
Technical & Operational:
Which products will be available where, and how should the be handled
Depending on the oil price the industry may be facing a Liquidity Crunch post January 1st, 2020. As a Bunker Trading company with a significant turnover, we have secured access to substantial financing facilities
The shipping industry may be needing an additional 30-35% more credit in the market to buy and consume the current volumes. This could be equivalent to Usd 4 billion extra per month. This estimation is based on the current oil price of around Usd 65,00/Barrel.
What are the new investment trends in the industry?
Different investments are being made towards 2020, depending on which part of the product-flow you are operating in. Some shipowners are making significant investments in scrubbers (Exhaustion Gas Cleaning Systems). Some refineries are investing in upgrades. Some physical suppliers are investing in storage, tankers and other equipment to position themselves to supply additional or different grades. At Glander International Bunkering we are investing in training and education of our staff, enabling them to help mitigate the gaps in the markets that may arise because of the new Sulphur rules. Those who will be able to advise clients about products and their use, as well as availability and pricing, will be able to add great value. Furthermore, our suppliers will need to know about expected demand etc. from us and our clients, so investing in knowledge is key for us.
How do you think the conference will benefit the industry?
The 9th Biennial Bunkering in Asia Conference creates a platform for knowledge sharing. Most industry stakeholders are still left with a lot of questions which remain unanswered. By getting people from various corners of the industry together, IBC makes it possible for all to share ideas and knowledge and to learn from each other. We should not forget that the conference is a good space for networking. Who knows, perhaps you meet just that company or person, who can help you take the leap into 2020 in a much safer way.
How should governments adjust their regulatory priorities to attract more investment/action?
In my view governments who have created successful business environments have done so by listening to the needs of companies and by facilitating sound conditions for them to operate.
Where in the industry do you see growth opportunities?
I see growth opportunities in almost all areas across the bunker industry. Whether you are successful or not depends on the skills you employ and how you operate your company.
Glander International Bunkering
Don’t miss your chance to hear from Carsten Ladekjaer at the upcoming 9th Bienniel Bunkering in Asia from 2-4 September 2019. He will be a speaker in the session of IMO 2020 Through a Bunker Trader’s Lens on Day 1 of the Conference where he will be highlighting risks, challenges, opportunities, consideration factors and preparation tactics.
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