ShippingWatch

OW Bunker: The future bunker market is a patchwork

LNG fuel is far from a reality and still lies many years in the future, says Jim Pedersen, CEO of OW Bunker.

"Unless we get a real financial driver for this, it's not going to happen. And with a shipping industry under pressure, they don't need a lot of extra expenses right now. So I believe we'll get to the other side of 2020 before this has any real effect on the bunker market."

Jim Pedersen, CEO, OW Bunker

LNG is an obvious solution to the increased environmental requirements, such as the reduction of SOx in fuel on ships sailing in the ECA area, that will hit the shipping industry in the years to come. No doubt about that, says Jim Pedersen, CEO of the world's largest bunker company, OW Bunker. But all the talk about the alternative fuel is just that, talk, and not so much action, he tells ShippingWatch.

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