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Marine Fuels Alliance holds first Focus Group meet to discuss sanctions and compliance

13 May 2022

The Marine Fuels Alliance (MFA), a bunker organisation formed in 2021, held its first Focus Group meeting on Tuesday (3 May).

The critical subject of Sanctions & Compliance was discussed by members of the organisation on the call.

MFA partners Hafnia Law Firm and Awyr Las Ltd lent their expert contribution and guidance in the effort. 

Founder Members of the MFA Sekavin and Propeller Fuels Ltd were in attendance and presented their recent experiences and challenges, getting their voices heard and raising their concerns. 

“Bunker suppliers and ship owners in the meeting were able to provide valuable insights into how those in the supply chain manage Sanctions checking and reporting,” said MFA in a social media post. 

Minutes and Actions will be posted for members on the MFA portal along with the guidelines and processes we are creating for suppliers.

Moving forward, the organisation said more meetings will be held in May where Focus Groups will address credit reports, management of the credit assessment process, as well as an in-depth review of Terms and Conditions in bunker supply contracts.

Manifold Times in April reported MFA launching a survey on its website to provide a platform for bunker suppliers to raise concerns,  while providing an opportunity for potential parties to join MFA.

Related: Marine Fuels Alliance launches survey for bunker suppliers to raise concerns in industry
Related: MFA offers KYC, sanctions reports to bunkering sector on Russo-Ukrainian War
Related: Marine Fuels Alliance launches new membership website
Related: Marine Fuels Alliance prepares for next phase with launch of ‘upgraded’ membership portal during IP Week
Related: Debut interview: Marine Fuels Alliance to create bunker-charter, KYC, T&C standards as part of ‘ultimate goal
Related: Marine Fuels Alliance: A new bunker organisation for broad spectrum of physical suppliers
Related: Industry organisation Marine Fuel Alliance appoints new Executive Officer

 

Photo credit: Marine Fuels Alliance (MFA)
Published: 13 May, 2022

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