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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.