In the dynamic world of marine fuels, timely and accurate information is critical for industry players navigating regulatory changes, market trends, and technological advancements. Manifold Times catches up with Harro Booth, CEO of ElbOil Group, who shares the international bunker trading firm’s plans in Asia and beyond as it enters 2026:

How was ElbOil’s performance in 2025, and are there any achievements to share?

2025 was a year of tangible progress for ElbOil. We continued to expand our operational reach, reflected in our growing coverage of close to 2 million metric tonnes of bunkers per annum in 2025, compared to 1.3 million mt in the year before.

Beyond volume, the year demonstrated our ability to support customers in complex situations, including broking provision of a tailored bridging loan for a shipowner, reinforcing our role as a reliable and flexible partner.

At the same time, we made a strategic commitment to Asia. By opening our representative office in Shanghai during early 2025, we strengthened our local presence and significantly improved our ability to serve the Chinese and wider Asian markets including East of Suez. These steps underline our focus on proximity to customers, disciplined growth, and long-term partnerships as we move forward.

We also made progress in new services, digital tools, and sustainability initiatives. From my perspective, one of the key achievements was not a single milestone, but our ability to deliver consistently for clients despite geopolitical uncertainty, regulatory pressure, and ongoing market disruption. That reliability is something I personally value highly, and it is something we intend to build on.

Building on accomplishments in 2025, what will ElbOil’s objectives be for 2026?

Looking ahead to 2026, our objectives are clearly focused on quality growth rather than scale for its own sake. We aim to deepen existing partnerships, selectively expand in regions, and further develop our capabilities in focus areas, e.g. alternative fuels, EU ETS services, structured trading, financing solutions.

At the same time, we will continue to invest in digitalisation and data-driven decision-making, including tools and platforms, while preserving the human expertise that defines our trading culture. Strengthening compliance, risk management, and financial robustness will remain central pillars of our strategy.

Ultimately, our goal for 2026 is to remain a trusted partner in an increasingly complex market, agile enough to respond quickly, but structured enough to manage risk responsibly.

What was the bunker trading environment like in 2025, and what will be key factors influencing the segment this year?

The bunker trading environment in 2025 was shaped by a combination of geopolitical tensions, regulatory uncertainty, and economic pressure. Ongoing developments such as geopolitical factors continued to influence fuel availability, pricing structures, and logistics.

In parallel, regulatory developments particularly around regulations, e.g. EU ETS, IMO measures added another layer of complexity for shipowners and traders alike. Volatile oil prices, tightening credit conditions, and market consolidation further intensified pressure on margins and risk management.

Looking into the current year, I expect these factors to remain highly relevant. In addition, the pace of regulatory clarification, the availability of compliant fuels, and access to financing will play an increasingly important role in shaping market behaviour.

How is ElbOil preparing itself to handle these challenges for 2026?

Preparation starts with mindset. We operate with the understanding that long-term predictability has largely disappeared, and that flexibility and short decision cycles are essential.

On a practical level, we continue to invest in compliance and counterparty screening, supported by internal resources, team size, or external partners. Our risk management approach integrates legal, financial, and ethical considerations into daily trading decisions.

We have signed an MOU with a producer of Green Methanol in China and as such we will be able to supply as of 2027 Green Methanol to the shipping industry and domestic market. We have also visited this plant in China on 15 January. This deal is showing our commitment to alternative fuels and the transition and will allow us gaining even more experience for green methanol.

We are also proud to announce that we just managed to secure another mid-8 figure credit loan line with our existing banking portfolio which now amounts to a high-8 figure number. This combined with our high own equity allowing us to grow, invest and serve our clients at any price regime with full financial support and flexibility.

We are also refining our use of technology, including insert analytics tools, predictive models, or platforms, while ensuring that final decisions remain guided by experience and judgement. I strongly believe that this balance between data and intuition is what allows us to manage volatility without losing the personal element that is crucial in complex negotiations and claims handling.

With the increasing emphasis on data and digitalisation do you think the human touch, or ‘soul’, of the bunkering sector is being eroded?

One aspect that deserves emphasis is the human side of this industry. While technology, regulation, and fuels are evolving rapidly, trust, relationships, and people remain the true anchors of successful trading.

At ElbOil, we believe the future of bunker trading lies in combining innovation with responsibility, embracing new fuels and digital tools, while staying grounded in integrity, transparency, and long-term thinking.

If there is one message I would like to leave, it is that navigating change successfully requires not only data and systems, but also experience, curiosity, and the right team.

Related: ElbOil Group adds green methanol to marine fuels product portfolio with latest China deal
Related: ElbOil expands bunker trading ops with ISCC EU cert, new Shanghai rep office and team

Photo credit: Manifold Times
Published: 22 January 2026