Sample Essay
The fuel additives that are being added to the bunker fuel in order to make it more environmentally friendly is due to increase the demand for the bunker fuel while increasing the costs for the fuel as well. A report on the EMEA fuel additives market reported that “EMEA automotive and marine performance fuel additives markets earned revenues of €446.0 million (US$121.4 million) in 2005 and estimates this to reach €590.0 million (US$160.6 million) in 2012.” (Trevor Lloyd-Jones, 2006)
At the marine fuel sustainability conference held in Copenhagen in 2006 CEO of World Fuel Services mentioned that in the new shipping industry specially that which employs bulk carriers like handymax “Low Sulfur fuel oil is the single most important challenge facing the bunker industry today” (‘Bunkerworld: Marine Fuel Sustainability’, 2004) It was mentioned by Mark Cameron that “Real issues, real situations and real time practical solutions need to be publicly put forward in the common interest of achieving compliance” (‘Bunkerworld: Marine Fuel Sustainability’, 2004) I
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