International tanker owner and operator Hafnia BW group on Wednesday (25 March) said there is strength in numbers when it comes to negotiating the best price and terms for bunkers, and this is what every member of the Hafnia bunker alliance benefits from.
“Last year we purchased bunkers worth more than 600 million US dollars. Our team monitors the fluctuations in the market and searches for the most optimal deals for all members of our alliance,” said Peter M. Grünwaldt, Vice President, Hafnia Bunkers.
“Put simply we find the right bunkers, in the right port at fair value and if there are any issues with the fuel spec or delivery, we can assist our members with professional and timely claims handling.”
On mitigating risk for members, the company adds that this is where the scale of bunkers matters.
If the bunker does not perform and a ship is taken out of action it can be near impossible for some companies to make claims.
The company explains this is why joining the Hafnia bunker alliance provides stability and a safety net for its members. With greater scale, it has a greater voice that creates more leverage to make claims.
“We’re not just price takers, we make a counterparty assessment to make sure we do business with the right people. We are in this for the long term, so we are trying to raise standards,” says Grünwaldt.
One of Hafnia Bunkers’ main ambitions right now is to contribute to innovations that can drive transparency, it said.
Ensuring quality bunkers is essential and the bunker team at Hafnia states it is fully supportive of innovations that can create a step change in routine corrupt practices.
“We are starting to see technology more and more in bunker related matters, being used to solve problems that have been apparent for years but difficult for individual owners to address,” adds Grünwaldt.
“We would like to work with other owners and authorities to combat some of these issues – taking the industry to the next level.”
Hafnia notes that the product tanker industry is set to change further in the years ahead – perhaps beyond all recognition from its current form.
By embracing positive change at industry level, and driving transparency through buying at scale with expertise, Hafnia Bunkers says it hopes to keep pushing the industry standard and make a difference for the people involved in its bunker alliance.
Photo credit: Hafnia Bunkers
Published: 27 March, 2020