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Heavy fuel oil. Heavy fuel oil (HFO) is a category of fuel oils of a tar -like consistency. Also known as bunker fuel, or residual fuel oil, HFO is the result or remnant from the distillation and cracking process of petroleum. For this reason, HFO is contaminated with several different compounds including aromatics, sulfur, and nitrogen, making ...
The Australian Customs and the Australian Tax Office defines a bunker fuel as the fuel that powers the engine of a ship or aircraft. Bunker A is No. 4 fuel oil, bunker B is No. 5, and bunker C is No. 6. Since No. 6 is the most common, "bunker fuel" is often used as a synonym for No. 6.
Fuel price risk management, a specialization of both financial risk management and oil price analysis and similar to conventional risk management practice, is a continual cyclic process that includes risk assessment, risk decision making and the implementation of risk controls. It focuses primarily on when and how an organization can best hedge ...
Bunker adjustment factor, bunker surcharge or BAF refers to the floating part of sea freight charges which represents additions due to oil prices. [1] BAF charges used to be determined by Carrier Conferences to be applicable for a certain period on a certain trade route . The European Commission banned Carrier Conferences as of October 17, 2008.
Bunkering is the supplying of fuel for use by ships ( such fuel is referred to as bunker ), [ 1] including the logistics of loading and distributing the fuel among available shipboard tanks. [ 2] A person dealing in trade of bunker (fuel) is called a bunker trader. The term bunkering originated in the days of steamships, when coal was stored in ...
They said blending such oil into bunker fuels was on the rise as tightening regulations due to come in next year have pushed up benchmark bunker fuel prices to their highest seasonal level in ...
The USTC Group is represented by more than 140 own offices in 40 countries and has more than 4,000 employees (2022). The largest company in the group is Bunker Holding, the world's leading company in bunker trading and the parent company of several autonomous bunker fuel companies around the world. Other USTC companies are SDK FREJA, Uni ...
A bunker quantity survey ( BQS ), also known as a bunker quantity audit or simply a bunker survey, is a quantitative examination and assessment of fuel oil ( bunker fuel) transferred from one party to another. In the maritime industry, a BQS is conducted when a supply vessel (typically a bunker barge or shore tank) delivers fuel oil to a ...