The first Petrospot Transparency in Bunkering Forum was held at LISW 2021, and it gave panellists and delegates the opportunity to explore what transparency means in relation to the marine fuel supply chain. Topics discussed included bunker licensing, the use of mass flow meters, fuel quality and pricing and, on the commercial side of the business, credit, due diligence, financial reporting and trade insurance.
The Forum returns to revisit these themes at LISW 2023, but it does so against the background of a much-changed world. Geopolitical tensions, global economic challenges, the introduction of a raft of sanctions following Russia’s invasion of Ukraine in 2022 and shifting trade patterns have made transparency in bunkering more difficult to achieve – and all the more necessary.
In addition, a raft of new and upcoming environmental regulations at IMO level and in the European arena, the imperative of shipping’s decarbonisation and the requirements of ESG reporting have increased the scope of the definition of transparency in the shipping and bunker industries.
The Transparency in Shipping and Bunkering Forum at LISW 2023 will be the occasion for the launch of an ESG index specifically for shipping which is the result of three years’ independent academic research of Professor Theodore Syriopoulos, Dr. Stavros Karamperidis, Dr. Michael Tsatsaronis and Phd cand. Georgia Boura, by two leading universities, the University of Plymouth and National & Kapodistrian University of Athens.
The index uses a robust technology which was developed with the collaboration of leading shipping ESG experts, and it will be able to harmonise the ESG reporting mechanisms for shipping and achieve an easy comparison and transparency.
The first session of the Forum will introduce the new index and panellists will also discuss policies relating to sustainable shipping and consider how ESG is changing shipping practices.
The second session of the event will focus on transparency in bunkering. This will look at ESG reporting as it applies to marine fuel companies and a panel of industry experts will also consider if bunkering’s often rather opaque commercial and operational practices are really changing, particularly in the context of compliance with environmental and national regulations and an increasingly complex sanctions framework.
The Transparency in Shipping and Bunkering Forum will be held on 11 September at Norton Rose Fulbright, as part of London International Shipping Week (LISW23).
At only £75 to attend the Forum and Reception, this is expected to be one of the most popular bunkering events at LISW23. Please book early to avoid disappointment.