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Course Level
Delivery Method
Classroom Instructor-Led Course
Professional Development Credit Hours
There is no pre-requisite for this course.


Charles Lawrie is a founding partner, and now CEO, of Richardson Lawrie AssociatesLtd, an independent firm of international maritime economists and business consultants established in 1987 and now a part of the Wade Maritime Group based in London, Singapore and India. He is responsible for the firm's consulting and retainer services in the crude oil, petroleum products and gas transportation sectors. He has spent over 45 years in the oil and shipping sectors, more than 35 of which have been as project manager or senior consultant on shipping, economics, investment appraisals, feasibility studies, transportation strategies and business studies within Europe, the Americas and the Far East. He is a specialist in the development of: investment appraisals, business plans, strategy reviews; commercial/contractual advice, project implementation; evaluation of the transportation economics of varying routes, ports and cargo handling techniques; commodity trade flow analyses and forecasts; modelling and forecasts of short, medium and long term shipping traffic, shipping demand and shipping supply; and modelling and forecasts of shipping charter rates and vessel costs.

Captain Bhatia is a well-known maritime transportation industry expert with over 30 years of operational and commercial experience including organizational turnaround, business strategy, operational risk management, claims, legal & regulatory. He has in-depth technical, commercial and operational management expertise gained by serving at sea for 15 years and later on ashore in commercial operations and management consulting field. He is the founding partner of The Wade Maritime Group, a leading maritime business consulting group based out of Singapore with group offices in India and the UK. He has over the past decade worked on numerous projects in operational risk management, business strategy, organizational design, human capital management, strategic investment advice, claims management and regulatory compliance for leading ship owners, charterers, Oil & Bulk majors, Ports and PE firms. He is a specialist in commercial operations, maritime economics, transportation strategies, operational risk management, claims management and dispute resolution. Keynote speaker on various advanced training programmes and seminars in the maritime industry.



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Fundamentals of Bunker Supply, Demand, Pricing & Operations (CLASSROOM) - BUN1

Course Summary

Fundamentals of Bunker Supply, Demand, Pricing & Operations is a two-day instructor led course presented by the energy training experts at Mennta Energy Solutions. Developments in the bunker fuel market are one of this year's hottest topics. The implementation of IMOs global ban from 1 January 2020 on sulphur emissions greater than 0.5% has raised a number of questions over:

  • the future availability of new very low sulphur fuel oils (VLSFO)
  • price differentials between marine fuels
  • the alternatives to burning VLSFO
  • the stability, miscibility, sampling and compatibility testing of new fuels
  • fuel standards and test methods

In addition, moves are underway in the shipping industry to reduce levels of greenhouse gas (GHG) emissions. Apart from considering ship design and operations, this involves consideration of fuels derived from renewable resources including certain sources of methanol, biofuels, ammonia and hydrogen. Shipowners are already participating in projects to develop such fuels. The relevance of this is that new vessels ordered in the next decade will still be around in up to 20 years time or more.

This is an intensive two-day course covering bunker fuel demand and supply, pricing, physical and paper trading, bunker buying, legislation, blending and testing for quality. Presentations by a team of experienced industry experts are combined with exercises and case studies as part of the training experience.

Who Should Attend?

This course will be of interest to anyone involved in the planning, buying and selling of bunker fuels, physical and paper traders, brokers and ship operators, or participants whose organisations offer services to this industry.

Course Content

Bunker Fuel Demand and Supply

  • Sectorial fuel use
  • Regional fuel use
  • Future trends
  • Demand shifts
  • Demand and supply balances


  • Specifications
  • Characteristics affecting price
  • Pricing methodology
  • Price variations

Price Drivers

  • Fuel oil trading including blending and an overview of hedging, storage, arbitrage and spreads
  • The market participants
  • Physical trading

Blending Operations

Regulations and Standards

  • Regulations governing emissions;
  • Scrubbers, open/closed loop systems, economics;
  • ISO 8217 and bunker fuel specifications;
  • Fuel quality, compatibility, cat fines, miscibility;
  • Alternative fuels.

Risk Management

  • Strategies both from a pricing perspective? where to buy, what sort of quantities, from whom and an operational perspective;
  • Management of price, operational, reputation and payment Risk.

Metering and Claims Procedures

  • Test Methods
  • How does more accurate metering lead to better business
  • When to mediate - when to arrest; how to streamline claims procedures
  • Loss Prevention
  • Blending and Testing for Quality and Quantity (Custody Transfer)

Sample Testing Techniques

Bunkering Strategies for Ship Operators and Suppliers

  • Stemming cargoes for single voyages;
  • What quantity? where? impact on cargo loaded? differences arising out of trading in tropical or winter zones.

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