Fuel procurement in the bunker industry is undergoing a lasting transformation, with buyers increasingly prioritising overall commercial value over simply securing the cheapest price, according to Dorthe Bendtsen, CEO of KPI OceanConnect. Speaking to Ship & Bunker in an interview, Bendtsen said the combination of a more diverse fuel landscape and the energy transition has permanently altered how shipowners approach fuel purchasing decisions.
The comments came as KPI OceanConnect reported strong financial results for its latest fiscal year, according to Ship & Bunker, posting a 21% increase in pre-tax profits alongside an 8.4% rise in sales volumes.
Structural, Not Temporary, Change
While current pricing and margins have been shaped by heightened geopolitical volatility, Bendtsen told Ship & Bunker that many of the shifts observed in the bunkering sector are structural rather than tied to short-term disruption. She pointed to environmental regulations and a broader mix of available fuels as key drivers, noting that buyers now have access to significantly more market transparency and data than in previous years.
“That means procurement is becoming less about securing the lowest bunker price on the day and more about achieving the best overall commercial outcome,” Bendtsen said, according to Ship & Bunker. She added that operators are increasingly weighing fuel choices against availability, compliance costs, operational flexibility and long-term value.
Bendtsen also addressed the weakened margins the bunker industry experienced in the run-up to recent conflict, driven largely by competition from smaller trading firms. She told Ship & Bunker that a return to those conditions should not be assumed even if geopolitical tensions ease, arguing that competition will instead increasingly hinge on quality of advice, market insight, and flexible fuel and compliance strategies rather than price alone.
Resilience and Optionality
According to Ship & Bunker, Bendtsen said the disruption has underscored the value of a resilient global supply network, flexibility to source fuel through alternative locations, and access to expert market advice. She noted that while volatility creates industry-wide challenges, it has also increased demand for the kind of support KPI OceanConnect provides across conventional fuels, alternative fuels, carbon and compliance solutions.
Bendtsen further told Ship & Bunker that procurement strategies are shifting toward balancing price, availability and regulatory impact together, rather than optimising each in isolation, including assessing whether lower-carbon fuels could help reduce compliance costs under frameworks such as FuelEU Maritime and the EU ETS.
On growth, Ship & Bunker reports that KPI OceanConnect – formed from the 2020 merger of KPI Bridge Oil and OceanConnect Marine – has this year integrated fellow Bunker Holding subsidiary Baseblue into its operations, a move Bendtsen described as representative of the type of expansion the company will continue to pursue, alongside investment in digital capabilities and alternative fuel and carbon market expertise.
Does This Matter to You?
The shift described by Bendtsen points toward procurement strategies that weigh compliance costs, supply flexibility and regulatory exposure alongside price, according to the interview reported by Ship & Bunker. Parties involved in fuel purchasing, compliance planning under frameworks such as FuelEU Maritime and the EU ETS, or supply-chain resilience during periods of market disruption may find this evolving approach relevant to how procurement decisions are structured going forward. The source material does not provide specific data beyond KPI OceanConnect’s own results and commentary, so broader market-wide impacts remain unconfirmed.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
