INTERVIEW: Top bunkering trader Minerva puts cost of fuel theft as high as $5.2 bil/year

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The bunkering industry is losing as much $5.2 billion of fuel annually to quantity shortages because of outdated methods used to measure deliveries, according to Tyler Baron, the CEO of the world’s largest physical bunker supplier Minerva Bunkering. Unlike many commodity markets that have transparent price discovery and universal quantity measurements, the bunkering industry still widely uses manual measurement and…