The bunker industry was looking forward to a year of recovery in 2022 as the Western economies started to put COVID-19 behind them and Asia-Pacific looked set to follow before long. But the war in Ukraine has now upended any sense of calm, with the industry now scrambling to move on from using products of Russian origin and cope with the knock-on impacts of the war and ensuing sanctions on various shipping segments. Bunker prices around the world are now trading at or near record highs, and the long-discussed issue of the bunker industry's access to credit is starting to become more acute. Beyond these immediate concerns, decarbonisation and digitalisation remain the dominant themes for the industry, with both shipping and bunker companies looking to invest in both areas to modernise their operations, cut bills and reduce emissions.
Join us at the IBIA Annual Convention 2022 in Houston in November for an in-depth look at all of these issues and more. The event will be held in person at the JW Marriott Houston by The Galleria Hotel in Houston on November 15-17.