"Fuel oil & bunker trading" - International workshop, 14 - 15 June 2007, Riga, Latvia

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More than 40 participants from all over the world participated in the training programme. The course covered the following issues in detail:

• Key characteristics of bunker residue and distillate fuels
• Commercial importance of blending. Adjusting sulphur, viscosity, metals; compatibility problems with straight-run/ cracked fuel oils
• Effects of the new EU/ Marpol regulations on customers, suppliers and traders; forward supply/ demand balances for low sulphur residues; impact on demand patterns in the Baltic and North Sea/ English Channel regions
• Current exports and markets and the effect of the regulations on Russian, Baltic States and FSU fuel oil exports/ new trading opportunities
• Fuel oil pricing and bunker components’ costs. The importance of regional market values based on refining economics and location
• Price risk management of cargo sales/ purchasing, bunker sales (retail) and inventory (stock), including hedging in the absence of liquid futures markets
• Freight costs, contract issues and negotiation

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