FUJAIRAH, 14th March, 2023 (WAM) – H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, praised the global reputation of Fujairah in the energy sector and for refuelling international ships. He also highlighted the emirate’s strategic location as a hub for attracting investments in the maritime sector and providing high-quality logistical services.
This statement was made during his attendance at the 13th Fujairah Bunkering and Fuel Oil Forum (FUJCON 2023), which was held at the Novotel Hotel and was hosted by S&P Global Commodity Insights, the Government of Fujairah, and the Port of Fujairah, with support from the Fujairah Oil Industry Zone.
FUJCON 2023 has been gaining momentum and attracting a global audience from leading oil and bunker producers/traders, oil majors, national oil companies, shipowners and operators, ship managers, ship brokers, refiners, classification societies, maritime lawyers, bankers, consultants, supply and service companies. The Forum has become a regular fixture in the calendar for the international bunker community.
The event was attended by Sheikh Saleh bin Mohammed Al Sharqi, Chairman of the Department of Industry and Economy of Fujairah, Sheikh Sultan bin Saleh Al Sharqi, Mohammed Saeed Al Dhanhani, Director of the Emiri Court of Fujairah, Dr. Mohammed Saeed Al Kindi, Chairman of the Organising Committee of the Forum, and Eng. Saif Ghobash, Assistant Under-Secretary for the Oil, Gas and Mineral Resources Sector at the Ministry of Energy and infrastructure.
Sheikh Mohammed bin Hamad highlighted the support of Sheikh Hamad for the event, which included providing it with the required resources to achieve its objectives and adopting the best practices to enhance the emirate’s stature as an international strategic hub for maritime transport services and ship refuelling.
H.H. Sheikh Mohammed bin Hamad also commended FUJCON for its global economic significance and its role in promoting valuable discussions in the maritime industry. He expressed his wishes for the forum’s organising committee and participants to achieve success in their objectives and produce practical recommendations.
The two-day forum, held under the theme “The Maritime Energy Transition & Future Fuels,” will focus on the energy transition and carbon reduction requirements that are driving a paradigm shift in the maritime industry. The event will examine Fujairah’s future fuel options, including possible technologies, investments, delivery infrastructure, and industry collaboration necessary to achieve sustainability goals.
The organisers announced that new storage projects will commence during 2023, further strengthening Fujairah’s position as one of the largest storage, trading, and bunkering hubs in the Middle East. The port’s current storage capacity stands at 11.1 million cbm, with nearly 12,500 vessels calling at the Fujairah Offshore Anchorage Area in 2022.
In addition, the port will commission its new dry bulk export facility in Dibba, adding an initial 18m ton of aggregate handling capacity, while the Etihad Rail project will complete its connection inside the Port of Fujairah to link Fujairah with other key economic zones in the United Arab Emirates for the movement of containers and general cargo.
The forum will feature presentations and roundtable discussions by key decision-makers, thought leaders, and marine experts who will share their views, analysis, and insights on global bunker and fuel oil market developments, challenges, and steps to be taken by the marine industry in facing the development of future fuels.
On the first day of the forum, discussions covered a range of topics, including decarbonization, the role of finance in the shipping industry, market developments and future fuel options from supply, operational, environmental, and economic perspectives, fuel oil trade flows and pricing trends, and operational challenges and technological developments.
On the second day, speakers will continue to discuss topics such as global carbon tax or state vs. IMO regulations, contract terms and rules on carbon-neutral cargoes, the role of LNG in the decarbonisation pathway, decarbonisation options for maritime operations, demand for biofuels and methanol supplies, and terminal infrastructure changes to handle storage of alternative fuels. The forum will conclude with an offshore site visit to the Port of Fujairah.