World News
IBIA: IMO Needs to Act on Poor Quality Bunkers
International Bunker Industry Association (IBIA) Chairman Jens Maul Jørgensen says legislation is necessary to halt the issue of worsening bunker quality, Shippingwatch reports.
Jørgensen argues that clear global rules are needed because the industry has not been able to solve the problem itself, and so it needs authorities to act.
"It goes without saying that we need to speed up the initiatives introduced in the bunker industry. We need to introduce new rules that suppliers and buyers must comply with," he said.
"We have an ISO standard in the world, and we need to comply with it. But the biggest problem is that when an ISO standard is introduced for bunker trade, it's not a regulation, it's a voluntary agreement."
IBIA has submitted a proposal to the International Maritime Organization (IMO)'s Marine Environment Protection Committee (MEPC) calling for the implementation of a licence system to be enforced by port authorities.
Under the proposal, which is expected to be discussed at an MEPC meeting next week, licenced suppliers would have to adhere to certain criteria and requirements.
Licences could be revoked from operators failing to comply, and unregistered suppliers could be barred from operating at ports.
As part of Ship & Bunker's Industry Insight series, Jørgensen recently noted that "good quality fuel is out there", and IBIA retains a list of suppliers available to members.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 539.00 | 4.00 | 664.50 | 6.00 |
| Rotterdam | 501.00 | 0.50 | 641.50 | 2.50 |
| Houston | 543.50 | 3.50 | 662.50 | 1.50 |
| Fujairah | 535.50 | 3.50 | 744.50 | 1.50 |
| Global 20 Ports Average | 571.00 | 1.00 | 746.50 | 0.00 |
| Global 4 Ports Average | 529.50 | 2.50 | 678.00 | 2.50 |
| Global Average Bunker Price | 621.50 | 1.00 | 801.50 | 1.00 |
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