Bunkers: An Introduction to Managing Commercial Risk offers the reader far more than a simple explanation of price risk management and the hedging tools and methods available today. It also provides a wide-ranging examination of the many forms of commercial risk that affect bunker suppliers and traders, just as much as they affect ship operators and charterers, including credit, counterparty, political, currency, insurance and even business continuity risk.

In this highly accessible book, Nigel Draffin offers a useful checklist for those wishing to minimise commercial risk of any sort. He explains, in an easy-to-follow way, the workings of futures markets and the use of exchange-traded hedging tools, as well as over the counter swaps, options and other derivatives.

He provides insight into some of the more complex risk management techniques and offers strategies to manage risk portfolios. The book also covers pricing, volatility and exposure, as well as tax rules, accounting and financial regulations.

About the author

Bunkers: An Introduction to Managing Commercial Risk is the ninth bunker-related book written by Nigel Draffin, whose other best-selling titles cover a wide range of issues, including fuel measurement, fuel analysis, LNG bunkering, marine engines, commercial and operational issues, and shipping in general.

Nigel Draffin has been involved in shipping for some 50 years and with the commercial bunker market for over 25 years, most recently as a bunker broker. He is a founder member of the International Bunker Industry Association (IBIA) and has served several times on its management board, including as chairman. He is a member of the Institute of Marine Engineering, Science and Technology (IMarEST) and Past Master of the Worshipful Company of Fuellers.

He is a well-respected trainer and lecturer, and Course Director of the Petrospot Academy, which runs the Oxford Bunker Course and a range of other professional bunker and shipping courses worldwide.