FuelTrust Study Exposes Ethical Issues in Maritime Fuel Market, Leading to Billions in Losses

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Written By Jennifer Joslyn

FuelTrust, a start-up based in Houston, has conducted research exposing the lack of transparency and ethical issues in the maritime fuel market.

Their study reveals fraudulent practices, contamination, discrepancies, and unethical behavior in the bunkering industry. FuelTrust highlights that fuel-related problems can significantly impact ship operators' profitability, as fuel represents over half of a vessel's operating expenses. They estimate that fuel issues have caused losses exceeding $5 billion to the global supply chain, leading them to develop AI technology to assess and validate the fuel supply chain.

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