World News
Polar Code Gains MEPC Approval
The Polar Code may come into effect as early as 2017 after being approved by the International Maritime Organization's (IMO) Marine Environment Protection Committee (MEPC 67), Seatrade Global reports.
The International Code for Ships Operating in Polar Waters, or the Polar Code, would attempt to prevent environmental pollution in the sensitive Arctic and Antarctic waters.
At the same time, MEPC 67 approved making amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) to enforce the new code.
The proposed regulations cover everything from design and construction of ships to equipment to training and search and rescue missions for both polar regions.
Restrictions on discharges already exist for the Antarctic with its special area designations under MARPOL annexes I and V.
The Polar Code would create similar distinctions for the Arctic as well, and will put laws in place against pollution by oil, noxious liquid substances, sewage, and garbage.
The code was approved by the IMO's Maritime Safety Committee (MSC) earlier this year.
A final decision will be made by MPEC 67 in May 2015.
The code has also come under fire from green groups for not addressing some "serious" problems with increasing marine traffic.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 628.00 | 1.00 | 736.50 | 0.50 |
| Rotterdam | 569.00 | 10.00 | 730.50 | 23.00 |
| Houston | 591.00 | 3.50 | 770.50 | 6.00 |
| Fujairah | 626.50 | 4.50 | 886.50 | 5.00 |
| Global 20 Ports Average | 644.00 | 2.00 | 825.50 | 0.00 |
| Global 4 Ports Average | 603.50 | 0.50 | 781.00 | 3.00 |
| Global Average Bunker Price | 700.00 | 0.00 | 883.50 | 0.50 |
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