If you are visually impaired or blind, you can visit the PDF version by Pressing CONTROL + ALT + 4
<br /> SPRING 2018<br /> DIRTY BUSINESS<br /> From fuel to finance –<br /> how the industry is<br /> cleaning up its act<br /> Know your<br /> counterparty<br /> Refiners tease<br /> out fuel plans<br /> Plus<br /> Asia Round-up: Singapore,<br /> South Korea, Japan and more<br /> www.platts.com<br /> <br /> CONTENTS<br /> SPRING 2018<br /> 6<br /> 12<br /> CONTENTS<br /> 24<br /> 48<br /> EDITOR’S NOTE �������������������������������������������������������������������������������������������������� 2<br /> COMPANY NEWS ������������������������������������������������������������������������������������������������ 3<br /> CLEANING THE BOTTOM OF THE BARREL ����������������������������������������������������������� 6<br /> 2018 OUTLOOK ���������������������������������<a title="BUNKER SPRING 18 Final LR page 1" href="https://secure.viewer.zmags.com/publication/544142a3?page=1"> SPRING 2018 DIRTY BUSINESS From fuel to finance </a> <a title="BUNKER SPRING 18 Final LR page 2" href="https://secure.viewer.zmags.com/publication/544142a3?page=2"> </a> <a title="BUNKER SPRING 18 Final LR page 3" href="https://secure.viewer.zmags.com/publication/544142a3?page=3"> CONTENTS SPRING 2018 6 12 CONTENTS 24 4</a> <a title="BUNKER SPRING 18 Final LR page 4" href="https://secure.viewer.zmags.com/publication/544142a3?page=4"> EDITOR’SNOTE Spring 2018 EDITOR Maurice</a> <a title="BUNKER SPRING 18 Final LR page 5" href="https://secure.viewer.zmags.com/publication/544142a3?page=5"> COMPANYNEWS JAPAN’S MARUBENI, THAI PTT START ST</a> <a title="BUNKER SPRING 18 Final LR page 6" href="https://secure.viewer.zmags.com/publication/544142a3?page=6"> COMPANYNEWS GERMANY’S OLDENDORFF POSTS 30% RISE</a> <a title="BUNKER SPRING 18 Final LR page 7" href="https://secure.viewer.zmags.com/publication/544142a3?page=7"> COMPANYNEWS MAERSK I</a> <a title="BUNKER SPRING 18 Final LR page 8" href="https://secure.viewer.zmags.com/publication/544142a3?page=8"> COVERSTORY CLEANING THE BOTTOM</a> <a title="BUNKER SPRING 18 Final LR page 9" href="https://secure.viewer.zmags.com/publication/544142a3?page=9"> COVERSTORY poor standards of measureme</a> <a title="BUNKER SPRING 18 Final LR page 10" href="https://secure.viewer.zmags.com/publication/544142a3?page=10"> COVERSTORY And in October another bunke</a> <a title="BUNKER SPRING 18 Final LR page 11" href="https://secure.viewer.zmags.com/publication/544142a3?page=11"> COVERSTORY s</a> <a title="BUNKER SPRING 18 Final LR page 12" href="https://secure.viewer.zmags.com/publication/544142a3?page=12"> COVERSTORY </a> <a title="BUNKER SPRING 18 Final LR page 13" href="https://secure.viewer.zmags.com/publication/544142a3?page=13"> </a> <a title="BUNKER SPRING 18 Final LR page 14" href="https://secure.viewer.zmags.com/publication/544142a3?page=14"> FEATURE 2018 OUTLOOK The global shipping </a> <a title="BUNKER SPRING 18 Final LR page 15" href="https://secure.viewer.zmags.com/publication/544142a3?page=15"> FEATURE the Orthodox holidays on January </a> <a title="BUNKER SPRING 18 Final LR page 16" href="https://secure.viewer.zmags.com/publication/544142a3?page=16"> FEATURE ATLANTIC DRY BULK: PANAMAXES SET FOR FIR</a> <a title="BUNKER SPRING 18 Final LR page 17" href="https://secure.viewer.zmags.com/publication/544142a3?page=17"> STEELY RESOLVE FOR CAPESIZE MARKET Though the </a> <a title="BUNKER SPRING 18 Final LR page 18" href="https://secure.viewer.zmags.com/publication/544142a3?page=18"> FEATURE Vessel oversupply is the Achilles heel</a> <a title="BUNKER SPRING 18 Final LR page 19" href="https://secure.viewer.zmags.com/publication/544142a3?page=19"> FEATURE However, market sources </a> <a title="BUNKER SPRING 18 Final LR page 20" href="https://secure.viewer.zmags.com/publication/544142a3?page=20"> FEATURE The rate of fleet growth is expect</a> <a title="BUNKER SPRING 18 Final LR page 21" href="https://secure.viewer.zmags.com/publication/544142a3?page=21"> FEATURE rising 52% in the period, while Brent a</a> <a title="BUNKER SPRING 18 Final LR page 22" href="https://secure.viewer.zmags.com/publication/544142a3?page=22"> FEATURE “I do think that Q1 of next year o</a> <a title="BUNKER SPRING 18 Final LR page 23" href="https://secure.viewer.zmags.com/publication/544142a3?page=23"> BUNKER BULLETIN 21</a> <a title="BUNKER SPRING 18 Final LR page 24" href="https://secure.viewer.zmags.com/publication/544142a3?page=24"> 22 BUNKER BULLETIN</a> <a title="BUNKER SPRING 18 Final LR page 25" href="https://secure.viewer.zmags.com/publication/544142a3?page=25"> BUNKER BULLETIN 23</a> <a title="BUNKER SPRING 18 Final LR page 26" href="https://secure.viewer.zmags.com/publication/544142a3?page=26"> FEATURE KNOW YOUR COUNTERPARTY SIMON MILLAR ON </a> <a title="BUNKER SPRING 18 Final LR page 27" href="https://secure.viewer.zmags.com/publication/544142a3?page=27"> FEATURE legal pitfalls and does no</a> <a title="BUNKER SPRING 18 Final LR page 28" href="https://secure.viewer.zmags.com/publication/544142a3?page=28"> GUEST FEATURE SCRUBBERS ARE NOT THE PE</a> <a title="BUNKER SPRING 18 Final LR page 29" href="https://secure.viewer.zmags.com/publication/544142a3?page=29"> GUEST FEATURE Concerns have been raise</a> <a title="BUNKER SPRING 18 Final LR page 30" href="https://secure.viewer.zmags.com/publication/544142a3?page=30"> FEATURE IMO MOVES NEARER TO RESOLVIN</a> <a title="BUNKER SPRING 18 Final LR page 31" href="https://secure.viewer.zmags.com/publication/544142a3?page=31"> REGIONAL ROUND UP - ASIA </a> <a title="BUNKER SPRING 18 Final LR page 32" href="https://secure.viewer.zmags.com/publication/544142a3?page=32"> REGIONAL ROUND UP - ASIA S</a> <a title="BUNKER SPRING 18 Final LR page 33" href="https://secure.viewer.zmags.com/publication/544142a3?page=33"> REGIONAL ROUND UP - ASIA SINGAPORE LAUNCHES ROA</a> <a title="BUNKER SPRING 18 Final LR page 34" href="https://secure.viewer.zmags.com/publication/544142a3?page=34"> REGIONAL ROUND UP - ASIA SOUTH KOREA REFINERS GE</a> <a title="BUNKER SPRING 18 Final LR page 35" href="https://secure.viewer.zmags.com/publication/544142a3?page=35"> REGIONAL ROUND UP - ASIA BUNKER SUPPLIERS </a> <a title="BUNKER SPRING 18 Final LR page 36" href="https://secure.viewer.zmags.com/publication/544142a3?page=36"> GUEST FEATURE TOWARDS AN EASIER 2020 TRANSIT</a> <a title="BUNKER SPRING 18 Final LR page 37" href="https://secure.viewer.zmags.com/publication/544142a3?page=37"> them� Sulfur is a source of a variety of coarse </a> <a title="BUNKER SPRING 18 Final LR page 38" href="https://secure.viewer.zmags.com/publication/544142a3?page=38"> FEATURE REFINERS TEASE PLANS FOR 2020 0.5%</a> <a title="BUNKER SPRING 18 Final LR page 39" href="https://secure.viewer.zmags.com/publication/544142a3?page=39"> GLOBAL SINGAPORE HOUSTON MARKET VIEW </a> <a title="BUNKER SPRING 18 Final LR page 40" href="https://secure.viewer.zmags.com/publication/544142a3?page=40"> MARKETVIEW BUNKERWORLD INDEX (BWI) </a> <a title="BUNKER SPRING 18 Final LR page 41" href="https://secure.viewer.zmags.com/publication/544142a3?page=41"> GLOBAL QUALITY Catfines </a> <a title="BUNKER SPRING 18 Final LR page 42" href="https://secure.viewer.zmags.com/publication/544142a3?page=42"> MARKETVIEW PRICE IFO 380 SINGAPORE 380 </a> <a title="BUNKER SPRING 18 Final LR page 43" href="https://secure.viewer.zmags.com/publication/544142a3?page=43"> SINGAPORE QUALITY Catfines </a> <a title="BUNKER SPRING 18 Final LR page 44" href="https://secure.viewer.zmags.com/publication/544142a3?page=44"> MARKETVIEW PRICE IFO 380 HOUSTON 380 </a> <a title="BUNKER SPRING 18 Final LR page 45" href="https://secure.viewer.zmags.com/publication/544142a3?page=45"> HOUSTON QUALITY Catfines </a> <a title="BUNKER SPRING 18 Final LR page 46" href="https://secure.viewer.zmags.com/publication/544142a3?page=46"> MARKETVIEW PRICE IFO 380 FUJAIRAH 380 </a> <a title="BUNKER SPRING 18 Final LR page 47" href="https://secure.viewer.zmags.com/publication/544142a3?page=47"> FUJAIRAH QUALITY Catfines </a> <a title="BUNKER SPRING 18 Final LR page 48" href="https://secure.viewer.zmags.com/publication/544142a3?page=48"> MARKETVIEW PRICE IFO 380 ROTTERDAM 380 </a> <a title="BUNKER SPRING 18 Final LR page 49" href="https://secure.viewer.zmags.com/publication/544142a3?page=49"> ROTTERDAM QUALITY Catfines </a> <a title="BUNKER SPRING 18 Final LR page 50" href="https://secure.viewer.zmags.com/publication/544142a3?page=50"> FEATURE THE CONTAINER REPORT 48 </a> <a title="BUNKER SPRING 18 Final LR page 51" href="https://secure.viewer.zmags.com/publication/544142a3?page=51"> FEATURE WHAT WE SAW IN FEBRUARY • North Asia to </a> <a title="BUNKER SPRING 18 Final LR page 52" href="https://secure.viewer.zmags.com/publication/544142a3?page=52"> FEATURE WHAT WE EXPECT FOR 2018 • Annual con</a> <a title="BUNKER SPRING 18 Final LR page 53" href="https://secure.viewer.zmags.com/publication/544142a3?page=53"> FEATURE BUNKER THEMES February was a b</a> <a title="BUNKER SPRING 18 Final LR page 54" href="https://secure.viewer.zmags.com/publication/544142a3?page=54"> FINALWORD UNDER COVER UNCERTAINTY GROWS OVER </a> <a title="BUNKER SPRING 18 Final LR page 55" href="https://secure.viewer.zmags.com/publication/544142a3?page=55"> </a> <a title="BUNKER SPRING 18 Final LR page 56" href="https://secure.viewer.zmags.com/publication/544142a3?page=56"> </a>