In an effort to meet the new challenges that the IMO 2020 will bring to the markets, Glander International has hired David Chiang as Bunker Risk Manager. This is an entirely new position in the Glander group which the company considers as ‘response to shifting customer needs’.
Glander’s decision shows that uncertainty in the bunker market is increasing ahead of IMO 2020 and so does the demand for risk management products and services.
In his comments, the CEO of Glander International Bunkering, Carsten Ladekjær, explained that the bunker markets get more complex and the company’s customers are becoming more demanding. With its new service, Glander will offer customers tailored-made forward products in order to enable them hedge their future fuel prices and manage market uncertainties.
From his side, Chiang referred also to the increasing market uncertainties and noted that “More clients consider hedging as a bunker requirement to mitigate risks from an expected volatile market. Risk management in forward pricing products is ideally suited for this objective.’
According to many industry stakeholders, as the 1st January 2020 is approaching, the role of Chiang will become more and more important. An opinion which indicates that people are afraid that the bunker industry will not become more transparent and less volatile anytime soon.