FUJAIRAH, (Pakistan Point News - 09th Mar, 2021) Eminent thought leaders will address the impact of COVID-19 on the crude oil and bunker market at the virtual edition of the 12th International Fujairah Bunkering and Fuel Oil Forum (FUJCON 2021 Virtual) on 23rd March.
FUJCON is held biennially under the auspices of the Government of Fujairah & the Port of Fujairah and FOIZ, under the patronage of H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah.
Under the theme "Fuelling the Future: Solutions & Challenges", speakers will examine both key post COVID-19 and IMO 2020 scenarios, addressing commercial and technical aspects of the outlook for oil and bunker markets, prices and demand uncertainty, spreads between VLSFO, HSFO and MGO, blending practices and the increasing market share for LSFO, bunker fuel procurement patterns and the future fuels landscape with the role of LPG, LNG, Methanol and Hydrogen. The status of scrubbers, ship efficiency indices under GHG, shifting crude slates and refined product demand post COVID-19 and the large scale adoption and technical challenges of digital technologies will also be addressed in eight (8) distinct panels from March 23-24 Through presentations and roundtable discussions, over the two-day event, 45 visionaries, key decision makers, thought leaders and marine experts will be sharing their views, analysis and insights on the global bunker and fuel oil market developments, and challenges to be tackled by the fuel oil and maritime industry in paving the road to recovery post the global pandemic.
A special highlight of the two-day deliberations will be an update on the key developments in Fujairah in the two years since the last Forum, showcasing its growth as a global oil and products storage and trading hub.
Port of Fujairah’s Offshore Anchorage which remains one of the largest maritime hubs, with over 13,100 vessel calls in 2020, will also be highlighted, in particular how the Port of Fujairah responded to the COVID-19 outbreak.
The Forum is held as part of the Fujairah Bunkering Week (FBW) from 15-24 March 2021 which is expected to have participants from leading oil and bunker producers, traders, oil majors, national oil companies, shipowners, operators, managers, brokers, charterers, terminal operators, refiners and classification societies, from Asia, Africa and the middle East, Europe and the Americas. The Forum will feature over 4 industry events as part of the week, with access to virtual networking options for attendees to renew business contacts and forge new alliances at 1-2-1 audio, video and group meetings.
The Government of Fujairah spokesperson remarked "The hosting of FUJCON virtually affirms the commitment of the Government of Fujairah and Port of Fujairah as hosts, to maintain not only the schedule of the biennial event but also to provide a meeting ground for the important dialogues, deliberations and discussions that have been a distinguishing feature of FUJCON since its inception and continue to provide a fitting stage for a world class event on the international bunkering community’s annual Calendar.'' ''The Virtual Forum will integrate both industry leaders and practitioners, delivering high level content, industry know how and technical insights to stakeholders and participants via demand and live, allowing all stakeholders to engage and network on a seamless virtual platform,'' he said.
