OW Bunker, one of the world's leading suppliers of marine fuels and lubricants, today announced the launch of a new global standard to ensure the quality of products supplied by its physical division. The move is part of strategy to drive annual global claims below 1%, an unprecedented figure in the bunker industry. Customers will now be provided with a specification analysis on a minimum of 90% of all physical product orders, delivered prior to the usual testing procedures conducted by an external fuel oil analysis provider. This ensures total rigour in the fuel oil testing process and guarantees that customers receive the best quality products.
Announcing the initiative, Jan Christensen, Vice President, Physical Division, OW Bunker, said:
“Fuel quality is critically important to our customers, particularly as regulations become more stringent. Our new global standard on pre-testing analysis provides customers with confidence in our products and our quality control processes.”
“Claims are expensive for all parties and something that ship owners can ill-afford in the current economic environment. Pre-testing analysis reduces unnecessary claims and saves customers' money. Through this and other quality control measures, OW Bunker is striving to achieve an industry-leading goal of less than 1% claims.”
This is the first of a series of global standards that are being introduced to the market by OW Bunker's physical division. Further standards will be launched over the next six months.
OW Bunker is one of the world's largest suppliers of marine fuel oil and related services. The Group's core activity is the global sale of bunkers both from its own physical inventories, where it operates over 30 large and small tankers in its global fleet, as well as an intermediary trader. OW Bunker also provides advanced risk management tools and services in an increasingly unpredictable oil market and volatile global economy, and also purchases and sells entire oil cargoes.
The Group is represented in 25 countries world wide, spanning Europe, Middle East, Asia, Africa and the Americas and commands more than 8% of the global bunker market.
Source: OW Bunker