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Probunkers Holding: LNG bunker market evolving and long term contracts are fading

07 Jan 2021

Alexander Prokopakis, CEO of global liquified natural gas (LNG) bunkering supplier Probunkers Holding on Wednesday (6 January) published a message to its stakeholders illustrating how the company strategised to overcome challenges in 2020 and how the LNG bunkering industry has evolved over the past year:

Dear Stakeholders,

The much-discussed 2020, originally for IMO and then due to COVID-19, is behind us. The pandemic fundamentally changed the way we work but we responded quickly in order to continue our activities and move forward. Shipping, the industry that we serve, will be facing many challenges for the years ahead. From digitalization to crew training but most importantly decarbonization as it is on top of the agenda for regulators following the general public demand.

For Probunkers 2020 was a rich and intense year. We all experienced difficult and unprecedented circumstances. Undoubtedly, we faced uncertainty and delays, like most businesses, but we worked diligently in order to overcome the challenges.

The LNG market is evolving, the old fashion habits of long-term contracts and commitments are fading.

For 2021 the LNG fueled fleet will further expand and along with the increasing interest from charterers and shipowners for LNG as a marine fuel, Probunkers is poised to become the leading independent global LNG bunker supplier.

Related: Probunkers Holding applies for LNG bunkering license at Singapore port
Related: Probunkers signs LOI with Hyundai for construction of two LNG bunker vessels

Photo credit: Probunkers Holding
Published: 7 January, 2021

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