National Bank of Fujairah to give insights into the outlook for the marine industry at a pivotal time
NBF will participate in FUJCON 2023 in Fujairah, including key session on first day
Dubai – 15 March 2023 — National Bank of Fujairah (NBF) announces its participation in this year’s Fujairah Bunkering & Fuel Oil Forum (FUJCON 2023), which runs from 13th – 15th March. The event will be a chance for stakeholders in the downstream oil and marine industries to explore the theme of ‘the Maritime Energy Transition and Future Fuels’, with NBF’s participation reflecting its longstanding experience and deep expertise in both sectors.
Organised by global industry analysts S&P Global, the thirteenth edition of the forum will be held under the patronage of His Highness Sheikh Hamad bin Mohammed Al Sharqi, member of the UAE Supreme Council and Ruler of Fujairah.
Speaking on the sidelines of the forum, Vince Cook, CEO of NBF, commented: “This year’s edition of FUJCON reflects the intersection of two areas of critical importance to NBF – the marine industry and sustainability. Our longstanding experience and deep expertise in working with the marine and oil industries gives us a unique understanding of their banking needs, and allows us to develop the solutions we can offer as these critical industries evolve. As the marine and oil industries look to align with sustainability measures across the region and beyond, particularly around the uptake of clean energy sources, we see exciting new opportunities opening up, and I look forward to hearing industry insights on these in the coming days.”
The forum, an established fixture in the calendar, is expected to attract delegates from the UAE, across the MENA region and beyond. It will bring together banks, oil and bunker producers/traders, oil majors, national oil companies, shipowners and operators, refiners, lawyers and more to consider the energy transition and carbon reduction requirements which are forcing a paradigm shift in the maritime industry.
Bilal Hasan Ashraf, Head of Energy & Marine at NBF, will speak in the first session on day one, touching on the role of finance in the outlook for the shipping industry. The session will also provide perspectives on decarbonisation, the energy transition, and future fuels and fuel sustainability in the shipping industry, as well as the opportunities for collaboration thrown up by the green transition, new technologies and sustainability goals.
FUJCON 2023 will examine market developments and Fujairah’s future fuel options from the supply, operational, environmental and economic perspectives, as well as the possible technologies, investments, delivery infrastructure and industry collaboration needed to uncover new green maritime solutions and achieve sustainability goals.
About National Bank of Fujairah PJSC:
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shari’ah compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB / A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 15 (of which 1 is an electronic banking service unit) across the UAE.