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Press release 1 July 2014

URGENT PREPARATION NEEDED NOW FOR 2015 SULPHUR REGULATIONS – SAYS DYNAMIC OIL TRADING


With six months to go until 1 January 2015 deadline, owners and operators urged to plan ahead to manage their ECA fuel needs

Singapore, 1 July 2014 – With exactly six months to go until the 2015 ECA regulations take effect on 1 January next year, marine fuel trading company Dynamic Oil Trading has called on ship owners and operators to prepare now to ensure that they can still meet their supply requirements for compliant products within Emission Control Areas (ECAs), and to work collaboratively with their fuel suppliers in order to minimise the impact on their operations and profitability.

From 1 January 2015, all vessels sailing in the designated ECA zones in the Baltic Sea, the North Sea, the waters off the US and Canadian coastline and the US Caribbean Sea will be required to use fuel with a maximum sulphur content of just 0.1%, a significant reduction from the current ECA limit of 1%. This has prompted real concerns among owners and operators about the availability of sufficient fuel stocks and, in particular, the financial impact resulting from the requirement to buy more costly distillate products and how this will affect the profitability of operations, even calling into question the viability of certain routes.

Lars Møller, CEO of Dynamic Oil Trading, commented

“Whilst there are a number of compliance options available for vessels, neither scrubbers, nor alternative fuels such as LNG, will be deployed in large numbers in the short term. This leaves most owners and operators looking at distillates as the most viable solution. Not only do these carry a significant price premium, but the implications of the new low sulphur rules on fuel availability are also unclear, given the uncertain impact on both fuel supply and demand.

“It is therefore vital that every operator with vessels travelling through ECAs prepares now in order to find the optimal fuel procurement strategy that ensures access to high-quality, on-spec fuel products and that also keeps their fuel bill down. Waiting until the last minute risks compromising on availability, quality and price."

In order to ensure continuity in fuel supply, greater certainty over operating costs and to keep fuel bills to a minimum, Dynamic Oil Trading has set out a series of recommended steps for fuel purchasers.

Continues Møller:

“We are encouraging our customers to be proactive in mapping out the precise fuel requirements of their ECA operations, in order to secure the fuel they need on the best possible terms and in a way that meets their specific operational needs.

“Secondly, owners and operators must speak to their preferred fuel supplier now and get their advice on securing access to high quality, ECA-compliant products from trusted physical suppliers. A knowledgeable supplier will be able to advise on how best to secure the fuel that is required. There is no guarantee that all physical suppliers will be able to supply the compliant products that are needed, in the right place, and at the right time, as availability in some ports could be patchy. The only way to avoid the risk of an impact on operations or the risk of non-compliance with the 2015 ECA standards is to prepare now.

“Finally, we encourage all owners and operators to look at the price hedging tools that are at their disposal. There is an array of risk management strategies that operators can use to limit their exposure to fuel price fluctuations and to lock-in costs now, which not only helps to keep fuel bills as low as possible, but also provides greater certainty over costs. We can advise our customers on the most appropriate hedging instruments to employ, based on their commercial strategy, their appetite for risk and the anticipated price trends in the marine fuel market.

“There is uncertainty across the entire industry over the impact of the new sulphur regulations, but this can be managed and the costs can be mitigated through a proactive approach to planning ahead and by working with fuel supplies in order to adapt fuel procurement strategies for ECA voyages.”

-ends-

About Dynamic Oil Trading

Dynamic Oil Trading was launched in 2012.  The company is headquartered in Singapore and operates globally, with plans for further expansion in Asia, Europe and the Americas. Dynamic Oil Trading goes back to the roots of bunkering, working with, and trusted by, all parties in the shipping supply chain.  The company has experienced traders that thrive on operating within in a fast-paced, high-energy environment to provide customers with fuel and lubricant products quickly and efficiently, no matter what the challenge.  

For further information, contact:
Clare-Marie Dobing
BLUE Communications
T: +44 (0)1865 514 214
M: +44 (0)7889 812 090
E:clare-marie.dobing@blue-comms.com

Press release 9 June 2014

DYNAMIC OIL TRADING URGES GREATER DUE DIGILENCE TO REDUCE BUNKER FRAUD AND DISPUTES


Ship owners encouraged to invest in long-term supplier relationships to reduce exposure to fuel supply challenges

Singapore, 9 June 2014 – Dynamic Oil Trading, the global trading company for marine fuels and lubricants, today highlighted the important role of fuel suppliers in helping shipping companies to reduce their exposure to fuel quality and quantity risks, including bunker fraud.

Dynamic Oil Trading welcomes the steps taken to drive up professional standards within the industry and the use of the latest technology, such as Mass Flow Meters. However, it believes that ship owners can achieve even greater assurance over fuel quality and quantity by developing longer-term, partnership-based relationships with bunker suppliers that will work with them to reduce their exposure to disputes and fraudulent behaviour.

Lars Møller, CEO, Dynamic Oil Trading, said: “Understandably, following the Maritime and Port Authority of Singapore’s decision to make mass flow meters mandatory from 2017, there is greater optimism about the role that this technology can play in reducing short deliveries, whether accidental or deliberate. However, even where mass flow meters are available, ship owners need to be aware of other factors that can give rise to disputes, not just over fuel quantity, but also off-spec products or fuel contamination. This can have extremely serious consequences, including non-compliance with emissions regulations and damage to engine components."

“Under pressure to keep their costs down amid low freight rates and high bunker prices, it is easy to see how ship owners could be tempted to cut corners when it comes to conducting due diligence on their bunkering purchasing decisions, perhaps by purchasing the fuel directly from the cheapest local supplier. However, they need to be aware of the risks that this poses, not just in terms of bunker fraud but also other risks that can threaten their operational activities and their reputation, as well as proving very expensive. Whilst the ultimate responsibility rests with shipping companies for who they choose to procure their fuel from, we firmly believe that they should take advantage of the local supply chain knowledge held by well-established bunker suppliers.

“Companies like Dynamic Oil Trading can significantly reduce the risk involved in bunker procurement by acting as a shipping company’s intermediary. We only work with physical suppliers that we know to be reputable, trustworthy and committed to upholding high operational standards. In this way, our customers can have total confidence in the security of the fuel supply chain and that their exposure to fraud is minimised.”

Dynamic Oil Trading advises that ship owners should review their fuel suppliers against a simple checklist of what to look for, including the local knowledge and experience of its staff, the due diligence conducted into its recommended physical suppliers and a proven track record when it comes to a low incidence of bunker disputes or claims.

Continues Møller:

“This is the reason why, when expanding our global workforce, Dynamic Oil Trading places great emphasis on working with traders with widespread and excellent relations with all parties in the bunker fuel supply chain. We want to make fuel purchasing as straightforward and low risk for our customers as feasible. An important part of this process is maintaining close relationships with suppliers who can be relied on to deliver the high quality fuel our customers need, whenever and wherever they need it.”

-ends-

About Dynamic Oil Trading

Dynamic Oil Trading was launched in 2012.  The company is headquartered in Singapore and operates globally, with plans for further expansion in Asia, Europe and the Americas. Dynamic Oil Trading goes back to the roots of bunkering, working with, and trusted by, all parties in the shipping supply chain.  The company has experienced traders that thrive on operating within in a fast-paced, high-energy environment to provide customers with fuel and lubricant products quickly and efficiently, no matter what the challenge.  

For further information, contact:
Clare-Marie Dobing
BLUE Communications
T: +44 (0)1865 514 214
M: +44 (0)7889 812 090
E:clare-marie.dobing@blue-comms.com

Press release 29rd May 2014

CONTINUED DEMAND FOR CREDIT WILL LEAD TO MORE CONSOLIDATION AMONG BUNKER COMPANIES – SAYS DYNAMIC OIL TRADING


Suppliers without liquidity will lose out to financially robust organisations offering better terms

Singapore, 29 May 2014 – Dynamic Oil Trading, the global trading company for marine fuels and lubricants, today highlighted liquidity and credit as the single biggest challenge in the shipping industry when it comes to fuel supply. The company believes that the impending 0.1% ECA (Emission Control Area) regulations and the increase in distillate use, which will require a demand for more credit from ship owners and operators, will lead to further consolidation amongst bunkering companies.

“In today’s bunker market, cash is king and those in the market who lack the financial strength and access to capital will find it very hard to compete and grow,” says Lars Møller, CEO, Dynamic Oil Trading.

“This trend will become more acute following the introduction of the 2015 ECA regulations due to increased distillate use. Put simply, customers operating in ECAs and burning distillates to comply, will require significantly more credit than those operating outside ECA waters. While we are fortunate at Dynamic Oil Trading to have the financial resources, many bunkering companies are already finding it hard to finance the shipping industry in its current form; having to further increase credit will act as a catalyst for more consolidation.”

Dynamic Oil Trading also believes that as the demand for credit increases, so too will the stringency over counterparty risk.

Continues Møller:

“As the amount of credit increases, so does the risk. The financial viability of who we provide credit to is critical, and the due-diligence that is conducted will be of paramount importance. Of course at the centre of this is ensuring transparency and trust in the relationship between the supplier and the customer, as well as access to financial information. As 2015 becomes ever closer, we are working with our customers to ensure that they fully understand the impact and to plan supply accordingly and to understand the impact on their business and operations.”

-ends-

About Dynamic Oil Trading

Dynamic Oil Trading was launched in 2012.  The company is headquartered in Singapore and operates globally, with plans for further expansion in Asia, Europe and the Americas. Dynamic Oil Trading goes back to the roots of bunkering, working with, and trusted by, all parties in the shipping supply chain.  The company has experienced traders that thrive on operating within in a fast-paced, high-energy environment to provide customers with fuel and lubricant products quickly and efficiently, no matter what the challenge.  

For further information, contact:
Clare-Marie Dobing
BLUE Communications
T: +44 (0)1865 514 214
M: +44 (0)7889 812 090
E:clare-marie.dobing@blue-comms.com

Dynamic Oil Trading is looking for experienced bunker traders for the coming office in Dubai.


Responsibilities / What we expect of you:

  1. Having a minimum of 2-4 years experience within the bunker industry with own portfolio of customers
  2. Building and developing an existing portfolio of clients
  3. You see cold canvassing as a natural part of your work
  4. You are a hardworking and goal oriented individual
  5. Team player
  6. Strong ambition and self-drive
  7. Fluent in English. Additional language skills would be an advantage
  8. Sense of humour and good communication skills are important

We offer:

  1. An attractive salary package based on your qualifications/experience
  2. A job in an exciting and energetic industry
  3. A place in a young, energetic & highly qualified team with a very strong company spirit
  4. One of the fastest growing brands in the industry
  5. Opportunities to travel
  6. An international and challenging career

All enquiries shall be dealt with in confidence.
If you are interested and would like to take advantage of this opportunity please forward your C.V. together with a short covering letter HR@dynamicoiltrading.com before 26th July 2013: