MA0119 Bunkering Practices_Topic 2

Describe the role of the Independent marine fuel supplier and Oil Major.

• a) To explore and extract oil from offshore reserves.

• b) To provide marine fuel to vessels worldwide.

• c) To regulate marine fuel prices globally.

• d) To transport marine fuel to various ports.

What distinguishes the role of an independent marine fuel supplier from an oil major?

• a) Ownership of refineries

• b) Exclusivity in market reach

• c) Ability to set international fuel prices

• 1. d) Dependence on government regulations

Private Sector Independents are privately owned entities involved in marine fuel supply, whereas National Independent Companies are _____ owned entities with similar roles.

Match the following

• Bunker broker

• 1. Conducts inspections and tests related to marine fuel quality.

• Bunker supplier

• 1. Provides marine fuel directly to vessels.

• Bunker surveyor

• 1. Acts as an intermediary between buyers and sellers of marine fuel.

Arrange the following influencing factors affecting the statement "Independent suppliers are very influential in the bunker business world-wide" from most significant to least significant.

• Technological advancements in fuel efficiency

• Environmental regulations

• Fluctuations in oil prices

• Geopolitical tensions

Discuss the possible reasons for the oil majors’ limited participation in the world bunker market.

• a) Environmental concerns

• b) Higher profitability in other sectors

• c) Regulatory restrictions

• d) All of the aboveooi

Which of the following is NOT a possible reason for oil majors’ limited participation in the world bunker market?

• a) Profit margins

• b) Focus on upstream operations

• c) Environmental concerns

• 5. d) Lack of financial resources

Ship owners/operators prefer bunker suppliers due to their ___________.

• 1. a) Extensive advertising and marketing

• 1. b) Large fleet of vessels on a wide range of services

• c) Generous discounts and prompt delivery

• d) Specialised knowledge and competitive pricing

Discuss the advantages of getting bunkers from a bunker broker. Arrange the following advantages from most significant to least significant.

• 1. d) Time-saving

• 1. c) Negotiation leverage

• 1. b) Market expertise

• 1. a) Access to multiple suppliers

Explain the purpose of the Bunker Adjustment Factor (BAF).

• a) To regulate marine fuel prices globally.

• b) To adjust for fluctuations in fuel prices.

• c) To standardise fuel quality.

• d) To monitor vessel emissions.