Sample Essay
Jim Pedersen of the Bunker and Trading also mentioned that while the environmentalist laws against bunker fuel exist, the shipping industry is going to be hampered by high costs of operation and therefore low profitability. As a result the industry will have to adopt the new slow sulfur bunker fuel that was launched in 2006. “As we move forward with the implementation of SECA, the question of whether there are sufficient resources of low sulfur bunker fuel and what it will cost become vital to shipping and commerce in general.” (‘Bunkerworld: Marine Fuel Sustainability’, 2004)
The future for the shipping industry pertaining to bunker fuel is positive, as the research that is taking place in the industry pertaining to alternate fuels as well as the fuel additives in the bunker fuels is gong to result in the positive acceptance of the modified bunker fuel for ships. Moreover the regional limit for sulfur emission by the SECA will increase the market for lubricant additives as well. “Besides emission restrictions, the diesel fuel segment is likely to experience continued growth, as diesel fuel offers improved fuel economy in comparison to gasoline-powered vehicles. Meanwhile, various additives such as octane improvers, antioxidants additives, anticorrosion additives, deposit control additives among others, are also being used in gasoline to offer enhanced fuel performance.” (Trevor Lloyd-Jones, 2006)
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