New marine fuel hedging service

US brokers OceanConnect and Starsupply plan to launch the first bunker fuel derivatives contracts by July 8.

OceanConnect president Thomas Reilly says the service is aimed at ship owners and fuel suppliers looking to manage their exposure to the volatile marine fuel market. Bunker fuel – a heavy fuel oil used to power ships – can account for up to 30% of the cost of running a tanker.

OceanConnect is one of the largest brokers of physical marine fuel, as well as an information provider. This

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