How global market volatility and European regulations are changing the bunker industry

2021 looks set to be a year of radical change for the world of shipping and bunkering, with the value chain being rocked by tightening lines of credit, question marks over fuel quality and the pressure to be compliant to European regulations.

With the industry still reeling from the effects of IMO2020, it is now more important than ever that bunker professionals are tapped into the pain-points and opportunities that exist in the market today.

What to expect:

- An insightful overview of the European Bunker Fuels Market
Find out what the main challenges are in the market today, including: the key trends in the bunker buying market; supply and demand dynamics that are impacting the value chain today; and what the next steps are for the industry.

- Understanding the impact of upcoming regulation
IMO2020 continues to be changing the way businesses work, but the fast-approaching EU ETS regulations are causing new headaches, how will it impact the bunkering industry? How will prices change to combat tighter restrictions? Will lower-emissions fuels be the only step for suppliers?

- The continuing issue of credit
Due to the global pandemic conditions for gaining lines of credit are tougher than ever, with mid and small sized enterprises being hit hard. Banks slashed available capital to marine fuel sector by 10% over 2020, the value chain must respond with increased transparency in order to increase the flow of credit in the industry.

    Rate: $299

    Duration: 6 hours

    Our partner:


    Who attends?

    • Bunker suppliers
    • Ship owner/operators
    • Refiners
    • Bunker traders, brokers and analysts
    • Regulators and government officials
    • Private banks, investment banks and financial advisors
    • Risk managers, product controllers and finance managers


Thursday, May 20, 2021
State of play: Market conditions and lines of credit
  • 09.30 AM Chair's welcoming remarks
    Tamara Sleiman, Managing Editor – Residual Fuel, S&P Global Platts
  • 09.40 AM Keynote: Bunker fuel in 2021Changing market conditions and economic downturns spell a turbulent entry to the year for the bunker fuels market.
    Nicole Leonard, EMEA Oil & Cross-Commodity Analysis Lead, S&P Global Platts
  • 10:00 AM Transparency in creditA key roadblock to gaining lines of credit for bunker and shipping businesses is transparency and openness in sharing information.
    Chris Morgan, Global Head of Credit, Delta Energy

    Moderated by John Morley, Associate Editorial Director, S&P Global Platts
VLSFO and how bunker buyers are changing pace
  • 10:20 AM Panel: Bunker buying trendsCOVID-19 is just one of a myriad of global crises that have affected the bunker fuels market in the past 12 months. Explore how buying habits have altered due to an ever-changing global climate.
    Jan Christensen, Senior Director - Global Fuel Purchasing, Hapag-Lloyd AG
    Rustin Edwards
    , Head of Fuel Oil Procurement, Euronav
    Bjarne Schieldrop, Chief Analyst – Commodities, SEB
    Moderated by Tom Washington, Senior Transport Fuels Writer, S&P Global Platts
  • 10:50 amVLSFO outlookVery Low Sulphur Fuel Oil has seen an uptick in popularity due to increasing quality. With the quality of mixtures in a flux state due to recovering airline fuel demand, how long can VLSFO stay on an upwards trend?
    Kristine Petrosyan, Oil Market Analyst, IEA
  • 11:10 amGroup Q&A
  • 11:35 amNetworking and refreshment breakSponsorship available.
The impact of IMO and how future regulations will impact bunkering
  • 11:55 amRegulation round-up: What’s on the horizon?While IMO2020 may have come into force last year, new regulations are quickly approaching, changing what the bunker fuels industry must prioritise.
    Poul Woodall, Senior Advisor, Climate and Environment, DFDS
Looking forward, what are the fuel solutions for the future?
  • 12:15 pmBiofuel, a fuel for today?An era in which reducing sulphur emissions and moving to more sustainable solutions are top priorities; Biofuel could be the feasible solution of today.
    Rebecca Farrall, Managing Director, Aderco
  • 12:35 pmDecarbonisation: How to hit targetsIndustry players know they must become more carbon-neutral soon. The question is, how do we as an industry navigate that roadmap?
    Christian Bækmark Schiolborg, Manager, Marine Environment, BIMCO
  • 12:55 pmPanel: Future fuels roundupLooking to the future, how will hydrogen, biofuel and other fuels affect the market? With emissions regulations set to get tighter, combined with a need for price competitiveness, the industry needs a deeper understanding of what fuel will be a winner soon.
    Kjeld Aabo, Director New Technology, MAN Energy Solutions
    Unni Einemo, IMO Representative, IBIA
    Adrian Tolson, Director, BLUE Insight
    Moderated by Tamara Sleiman, Managing Editor – Residual Fuel, S&P Global Platts
  • 1:25 pmGroup Q&A
  • 1:50 pmNetworking and refreshment breakSponsorship opportunities available.
Bunkering in 2021
  • 2:10 pmLeaders discussLeaders within our industry come together to discuss the current state of the bunker market, including what we can expect from the latter half of 2021 and beyond.
    Cem Saral, CEO, Cockett Marine
    Unni Einemo, IMO Representative, IBIA
    Constantinos Capetanakis, Bunker Director, Star Bulk
    Moderated by Robin Meech, Managing Director, Marine and Energy Consulting Limited
  • 2:40 pmChair's concluding remarks and end of conference
    Tamara Sleiman, Managing Editor - Residual Fuel, S&P Global Platts

Key numbers






Traders and brokers




Ship owners


Christoffer Berg Lassen Christoffer Berg Lassen
Chief Commercial Officer, Bunker Holding


Adrian Tolson Adrian Tolson
Director, BLUE Insight

Adrian Tolson is the Director and Lead for BLUE’s Insight practice, and one of the shipping industry’s leading marine energy experts. With 35 years of experience, he has both detailed knowledge and insight into the supply and demand side of marine fuel, and into bunkering infrastructure development.

In 2015, Adrian founded maritime consultancy 20|20 Marine Energy, which was acquired by business, brand and communications consultancy, BLUE, in 2019. Adrian leads BLUE’s Insight practice, which provides commercial advisory, research and intelligence services across the key areas of transformation within the maritime industry. This includes the changing marine energy supply chain, digitalisation and the drive for decarbonisation and sustainability.

Adrian has led numerous global business development projects across the marine energy supply chain. This includes assisting ship owners and suppliers on fuel procurement and supply strategies in a post 2020 world; the development of bunkering infrastructure projects for clean and new fuels; as well as working with the financial and investment community on the opportunities of the future marine energy landscape.

Adrian’s experience spans leadership roles with some of the industry’s largest marine fuel suppliers, including Chemoil Energy, where he was responsible for successfully driving the company through to IPO; and as Vice President and General Manager of OW Bunker where he established its physical supply operation in the USA.

Adrian was elected to the board of the International Bunker Industry Association (IBIA) in April of 2020.

Cem Saral Cem Saral
CEO, Cockett Group

Cem Saral is the CEO of the Cockett Group (, one of the world’s leading resellers of marine and petroleum products and services and has over 20 years of industry experience on marine fuels and fuel oil trading.

During his career Cem has been employed at various key trading and management roles by leading oil trading and marine fuel oil companies. He has a wide geographical coverage and direct working experience in Europe, Asia, US, Far East and the Middle East.

Having worked extensively at both marine fuels and fuel oil trading industries, Cem has a sound understanding of the entire fuel oil supply chain and physical trading on a global basis. As a further value-add, he has had the opportunity to employ these direct trading experiences into areas of business development, management and strategic M&A activities.

Prior to joining to Cockett, Cem was last employed as a fuel oil trader by Vitol, one of the world’s leading energy and commodity trading companies ( and 50% shareholder of the Cockett Group.

Cem holds a BSc degree in Operations Research from Turkish Naval Academy and throughout his career he has attended a wide range of programs on trading, risk, finance and management.

Rebecca Farrall Rebecca Farrall
Managing Director, Aderco Ltd

Rebecca Farrall has a maritime background and has developed a strong reputation for her knowledge and skills gained with Aderco and two of the world’s leading cruise lines as well as her experience working with ro-pax ferries and container shipping. She is also an industry recognised speaker on fuel and bunkering issues.

In 2017 Rebecca joined Aderco – one of the world’s leading fuel treatment companies – to manage their UK, Middle East, USA and Cyprus operations. Her insight into the different maritime sectors covering both technical and operational issues has been invaluable in her work with ship owners, managers and operators who are using Aderco’s fuel treatment products across the globe.

Her maritime career began at sea where she worked until 2011, mainly on container ships, ro-pax ferries and cruise ships. During 2011 Rebecca began her land-based career with Carnival UK as Fleet Operations Manager. This gave her responsibilities for managing and planning ship deployments, handling berthing conflicts and the rescheduling of cruise operations for one of the world’s premier cruise lines.

Rebecca’s involvement with Carnival’s new build and launch events proved invaluable experience of working with senior stakeholders for when she moved to Saga as Planning & Assurance Officer: a role that proved a diverse range of challenges.

Bjarne Schieldrop Bjarne Schieldrop
Chief Analyst - Commodities, SEB

Bjarne has more than 25 years’ experience from commodity markets. He has worked with analysis, market modelling, structured deals as well as trading of commodities for large commodity trading companies like Enron in Scandinavia and Cargill in Geneva. He later worked for Point Carbon in Oslo analysing the European EU-ETS emission market involving European energy politics as well fossil fuel markets. Bjarne has a Master of Science degree in mathematics from the University of Oslo. Since 2008 he has held the position as Chief Analyst Commodities in SEB covering energy, metals, agricultural products as well as precious metals. The primary focus through his career has been energy markets.

Kristine Petrosyan Kristine Petrosyan
Oil Market Analyst, International Energy Agency

Kristine Petrosyan leads refining, crude, and product market research for the International Energy Agency's flagship Oil Market Report. She started her career in Ernst&Young's Moscow office in the corporate finance department. After graduating with an MSc in Energy Studies from the University of Dundee in Scotland, she joined BP in London as an upstream commercial analyst for Russian projects, moving on later to trading analysis. Prior to joining the IEA, she worked in BP and Glencore as a middle distillates trading analyst.

CBS Christian Bækmark Schiolborg
Manager, Marine Environment, BIMCO

Christian Bækmark Schiolborg is Manager, Marine Environment at BIMCO. He is responsible for analysing regulatory developments, mainly on issues related to marine fuel, energy efficiency and decarbonisation of shipping. Furthermore, he represents BIMCO at international organisations such as the International Maritime Organisation (IMO) and the International Organization for Standardization (ISO) on aforementioned matters.

Christian is educated as dual officer (deck officer and marine engineer) and has sailed on container and offshore ships.

Before joining BIMCO, he worked 6 years with the Danish Maritime Authority. Here he began as ship surveyor, became port state control officer and ended as special adviser in technical regulation in the department for maritime regulations and legal affairs, where he represented Denmark in IMO on different technical issues and was Head of the Danish delegation in the Sub-committee on Ship Systems and Equipment.

Jan_Christenssen Jan Christenssen
Senior Director - Global Fuel Purchasing, Hapag-Lloyd AG

Jan started his career in bunkering and shipping in 1997 with Maersk in Copenhagen.

Before joining Hapag-Lloyd in Hamburg as Senior Director of Global Fuel Purchasing in the summer of 2019, Jan held management positions with Bomin, OW Bunker and Maersk Oil Trading in Denmark and Germany.

Jan has worked in all parts of the bunkering supply chain (sourcing, risk management, sales, purchasing) and has a unique insight on both sides of the negotiation table.

Kjeld Aabo Kjeld Aabo
Director New Technology, MAN Energy Solutions

Kjeld Aabo holds a degree in mechanical engineering and a special diploma in marketing.

He joined MAN Diesel in the Stationary Installation Department in 1983. In 1992, he was appointed section manager in the Marine Installation Department and in 1994 he was appointed manager of the Marine Installation Department. In 2002, Kjeld Aabo took over the Engineering Services Department and was appointed Senior Manager. In 2005, he took over the Research Centre Department.

From November 2006, Kjeld Aabo was director of the department for Promotion & Customer Support and from March 2009 head of the Two-stroke Promotion department at the head office for two-stroke engines in Copenhagen, Denmark.

From 2011 to 2014, Kjeld Aabo took over a position in Brazil as head of MAN Marine and Offshore division.

After returning to Denmark in 2014 Kjeld Aabo is Director of new technologies in the Promotion and Sales department for two-stroke engines and GenSet engines.

Kjeld Aabo is Chairman of the CIMAC Heavy Fuel Working Group (WG), and member of the ISO 8217 Heavy Fuel Oil Working Group.

Poul Woodall Poul Woodall
Senior Advisor, Climate and Environment, DFDS

Poul Woodall has over 45 years of experience within the maritime and transport industry. The first 36 years were spent with A.P.Moller-Maersk in various positions, mainly within the container and Ro/Ro segments. His career includes 17 years overseas experience with postings in Asia, The Middle East and Europe.

In 2010, Poul joined DFDS A/S in Copenhagen and in June 2013 he was appointed Director for Environment and Sustainability for the DFDS Group. Poul Woodall has a degree from Copenhagen Business School supplemented with management education at Insead and Stanford University. Poul has been active in many industry organizations, Trident Alliance, Green Ship of the Future, SeaFocus and Clean Shipping Alliance to mention a few. Marine environment policy work is conducted through his affiliation with Interferry and various ESSF working groups in Brussels.

Poul is a co-author of “Sustainable Shipping, a Cross-Disciplinary View” (Springer, 2019).

Today Poul works part-time with DFDS as a Senior Advisor.

Constantinos Capetanakis Constantinos Capetanakis
Bunker Director, Star Bulk

Constantinos Capetanakis is a qualified Greek lawyer since 1997 and an English solicitor since 2002.

From 1998 to 2002 he was the Legal Counsel of Excel Maritime Carriers, a Piraeus-based shipping company listed in NYSE. Constantinos further worked as a marine litigation solicitor at Holman Fenwick & Willan, both in London and Piraeus. Between 2004-2013 he was a shareholder and Director of Quantum Shipping Ltd., a Piraeus-based shipping company, where he was responsible for the company’s investment strategy as well as for all legal, commercial and managerial issues.

In 2014 Constantinos joined Starbulk, initially serving as General Manager of a number of private vessels and subsequently as Executive Vice President – Control Director of the group’s procurement arm, Ship Procurement Services SA. Since 2019 Constantinos is serving as Starbulk’s Bunkers Director, responsible for bunkering procurement / strategy and Starbulk’s cooperation with bunker industry stakeholders.

In 2020 Constantinos was, for the first time, a candidate in International Bunker Industry Association’s (IBIA) BoD elections and got elected as IBIA’s Board Member. He is currently the Chairman of IBIA’s Future Fuels Working Group and a member of the Legal, Technical and Membership Working Groups of IBIA.

Robin Meech Robin Meech
Managing Director, Marine and Energy Consulting

Robin Meech is Managing Director of Marine and Energy Consulting, an independent consultancy established in 2001 focusing on the marine industry. MECL has a particular interest in the bunker sector. The company’s work frequently centres around providing insight into the future operating environment. This is particularly relevant at this time of immense changes: in the near term from the impact of 2020 and even more crucially, the effect of the devastating economic contraction. Longer term as the health of the planet comes to the forefront again, the way in which water bourne transport reduces its impact on the environment.

MECL advises governments, international agencies, oil companies large and small, the ship owning and operating community as well as the supply side of the bunker sector. The emergence of an even wider range of fuels are presenting unique questions particularly for those making strategic decision where MECL is being retained to help add confidence and insight.

Robin is co-author of the book entitled “Bunkers – An analysis of the Technical and Environmental Issues” and is a past chairman of the International Bunker Industry Association (IBIA).

Rustin Edwards Rustin Edwards
Head of Fuel Oil Procurement, Euronav


Unni Einemo Unni Einemo
IMO Representative, IBIA


Chris Morgan Chris Morgan
Global Head of Credit, Delta Energy

Uniquely-experienced credit specialist across the shipping, oil & gas, transport/logistics and aviation sectors. Chris is an insightful natural analyst and manager with a proven track record on collections, reducing portfolio risk/loss rates, business development and working with banks and credit insurers.

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Download the brochureDemonstrate your strengths, raise your company profile, and maximize your ROI as we bring key industry players and decision-makers to you. At the S&P Global Platts European Bunker Fuel Virtual Conference, each sponsor has the opportunity to showcase their products and services, and distinguish themselves from the competition. We offer a full range of opportunities and packages, and can even tailor solutions to suit your needs.

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The S&P Global Platts European Bunker Fuel Virtual Conference will take place Online on May 20, 2021 at 9:30 am - 3:30 pm BST.

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