The Testing Times report has been written by Thetius on behalf of Lloyd’s Register assesses the vital role of ship fuel oil assessment and quantity verification.
Despite many changes across the maritime industry, fossil fuels remain central to global trade and the ocean economy. Variations in bunker fuel quality have been a pressing issue for some time, and the problem of off-spec and poor-quality bunker fuel looks set to deteriorate further before things improve.
The Testing Times report, written by maritime innovation consultancy Thetius, examines the contemporary issues in the bunker supply chain and unpacks some of the strategies available to combat them and protect ship fleets from the dangers of off-spec and poor-quality fuel.
The monetary and environmental cost of maritime accidents has steadily increased over the last decade, despite the continuation of a general trend of improvement in safety across the global fleet. Major hull and machinery insurers Allianz Global Corporate and Speciality (AGCS) reported in May 2022 that 1 in 3 of these incidents are caused by machinery failure. The report reflects an uncertain picture in bunker related incidents as cost, availability, and quality vary as a result of many different factors.
The Testing Times report examines key three questions:
– What are the current key issues in bunkering?
– What trends and developments will affect bunkering over the coming decade?
– How can fleets protect themselves from the costs and risks of contaminated or off-spec fuel?