Global trade relationships and fuel availability key issues as biggest marine fuels event comes to Panama

on Monday, 26 March 2018. Posted in Petrospot News

Petrospot Ltd
26 March 2018
For immediate release

PRESS RELEASE

 

Global trade relationships and fuel availability key issues as biggest marine fuels event comes to Panama

Through the ambitious expansion of its Canal, Panama is both witnessing and driving dramatic change in the global shipping sector. But with trade wars and punitive tariffs threatening to significantly impact international trading and shipping patterns, and with new fuel regulations set to transform the marine fuels landscape - not just in Panama but worldwide - the future looks anything but certain.

‘Building global trade relationships and fuelling the ships that will service them – against a backdrop of unprecedented change – is the clear focus of Maritime Week Americas, the largest and most popular bunkering event in the Americas, which from 7-11 May will celebrate its 10th anniversary in Panama’ said Llewellyn Bankes-Hughes, Chairman of Maritime Week Americas and Managing Director of event organiser Petrospot Ltd.

‘Maritime Week Americas will look at Panama’s unique position as a facilitator of international trade, examining the role of the world’s largest ship register and the positive impact that the expanded Panama Canal is having on trading activity and shipping volumes locally, regionally and globally,’ he added.  

Guided by Jorge Barakat Pitty, Minister of Maritime Affairs and Administrator of the Panama Maritime Authority, the conference will examine the role of the Panama flag in the growth of world trade. Jorge Quijano, Administrator of the Panama Canal Authority, will explain how the Panama Canal acts as a conduit to expanded trading opportunities, while Alberto Alemán, Director of PROINVEX, part of Panama’s Ministry of Trade and Industry, will look at how Panama’s rapid growth is starting to mirror that of Dubai.

Alison Cross, Deputy Head of Mission and Chargé d’Affaires at the British Embassy in Panama, will also look at how Panama and the United Kingdom are cementing new relationships.

The Panama Canal is what makes Panama tick. The conference will delve deeper into how shipping and trade flows have changed with the expanded Panama Canal – particularly with the surge in LNG transits – and how this has impacted the local market for bunkers and maritime services.

But the event will also focus on the challenges and opportunities in the global bunkering sector, looking at how suppliers and traders are adapting to changing market conditions and some of the dangers that lie ahead. The need for industry consolidation and focus in a fast-changing and volatile market place will be discussed by Peter Zachariassen, global director of the recently-formed Bunker Holding company, Bunker One.

Brian Coyne, Managing Director, Americas, KPI Bridge Oil Inc. will look at the changing face of trading and broking post-2020, when the International Maritime Organization’s 0.5% global sulphur cap comes into force. This will affect the entire industry, from refiners to bunker suppliers and fuel buyers in the Americas and beyond, so the conference will examine what this means in terms of fuel availability, compliance and fuel quality issues. It is sure to create new challenges in the global credit sector, which will be discussed by Jason Silber of Platts Ocean Intelligence and Simon Hasslacher of Infospectrum Ltd.

Adrian Tolson, Senior Partner at consultancy 20|20 Marine Energy, will look at the commercial realities of 2020, while Michael McNamara, Managing Director of Veritas Petroleum Services will look into fuel quality management in a changing environment. Martin Brodersen, Head of Bunkers at TORM A/S, will provide a shipping industry perspective, looking at the issues of fuel demand and regulatory compliance and enforcement.

Peter Keller, Executive Vice President of shipping company TOTE Inc. and Chairman of marine LNG advocacy group SEA/LNG, will outline the compelling case for LNG, while Ricardo Ungo of the Panama Canal Authority will discuss what Panama is doing develop a viable LNG bunkering infrastructure.

Maritime Week Americas will offer a dedicated legal session which will cover a range of issues, from the new BIMCO Standard Bunker Contract to the continuing fallout from the collapse of OW Bunker and Hanjin and bunker quantity and quality claims.

‘It is clear that Panama is key to opening up many opportunities to expand regional and global trade, but it also a crucial bunkering and maritime hub and its growing importance on the world stage cannot be overestimated.’ said Llewellyn Bankes-Hughes, adding, ‘That is why this year’s Maritime Week Americas is so strongly backed by government and industry and why those involved in the shipping and bunkering sectors are eager to participate.’

 

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For further information please contact Kirstie Pendry at Petrospot on +44 1295 814455 or email kirstie@petrospot.com

Maritime Week Americas (MWA) is the largest annual marine fuels event in the Americas. Created and run by Petrospot Ltd, MWA is rotated between the United States, Colombia and Panama, and this year celebrates its 10th anniversary in Panama.

This year, Maritime Week Americas will also offer three training courses: Bunker Trading and Operations, Bunker Price Risk Management and a Bunker Dispute Resolution workshop, all designed to bring students up to speed in the fast-changing bunkering environment.

This Convention is renowned for its spectacular social events which, in Panama this year, include a visit to the locks at both ends of the expanded Panama Canal and a stunning evening reception at the Miraflores locks.

For more information visit www.maritimeweekamericas.com