On 4th April 2019, Cockett Marine Oil held the second high-level - Invitation Only - seminar as a part of our Knowledge Series on IMO 2020. In line with our first seminar in Istanbul, the seminar in Singapore covered IMO 2020 as a fundamental change to our industry, focusing on various critical aspects from commercial perspective as well as providing technical and operational views. The seminar was held at the Fullerton Hotel, in Singapore.

The seminar was split into two sections; Commercial and Technical. The first section (Commercial) saw speakers from HSBC equity research, FACTS Global Energy, and our CEO, Cem Saral, who provided both a macro and micro perspective of the oil and shipping markets now and going into 2020. The afternoon section (Technical) saw our Global Heads of Technical and Lubricants, Colin Holloway and Caroline Huot, as well as speakers from WinGD, Innospec, and DNV GL, provide their valuable inputs on the new world of shipping that we all will have to adapt to. 

 

The seminar received much attention from customers and business partners and in total we had close to 200 attendees at the seminar including owners, operators, ship managers, and interestingly top/middle management wishing to be better informed on IMO 2020. 

 

A few of the seminar takeaways:

  • Going into 2020 there will not be enough LSFO product available to satisfy total bunker demand. 
  • The scrubber fleet is relatively small and, as such, LSGO is expected to be the main compliant product available, at least within the first quarters of 2020. 
  • There will be immense pressure on credit, from banks, physical suppliers, and resellers alike. 
  • Compliant fuels will have vastly different properties; LSVGO, LSVR, LSAR, LSFOB, or other hybrid fuels.
  • Onboard management of these different fuels may be a major challenge, not to mention the understanding and use of different lubricants for the various complaint fuel products. 

We received very good feedbacks on the seminar. One of the emails received stated “Thanks for the seminar; I really enjoyed it; probably the best use of a day for a long while. And the food was great as well!”.  The successful IMO 2020 seminar is testament to our position in the market as thought leaders and trusted advisors for our customers going into 2020 and beyond.

Finally, thank you to entire Cockett team in Singapore and Asia as a whole, for helping to make our IMO 2020 seminar a great success! 

 

Martin Haxholdt
Commercial Head Asia
Cockett Group

 

Please click here to view our full agenda