World News
New Shipping Initiative to Work for Strong ECA Enforcement
A new shipping industry initiative to support enforcement of sulfur regulations on marine fuels, Trident Alliance, will hold an exploratory meeting on May 28 in Copenhagen, according to Wallenius Wilhelmsen Logistics (WWL), which is helping to organize the group.
The alliance was introduced at the Economist's World Ocean Summit earlier this year, and the meeting represents a chance for ship owners and operators and other interested parties to take part in formally establishing the group.
The meeting will officially define the alliance's objectives, which relate to the importance of robust implementation of sulfur emissions rules to create a level playing field for the shipping industry.
"Whilst necessary, these regulations pose a significant cost and compliance challenge to the shipping industry," WWL said.
"If the regulations are robustly implemented then compliance is the norm and competition is not distorted.
"However, when enforcement is weak a temptation is created to cut corners on compliance."
WWL said its vice president for environment, Roger Strevens, has met with shipping companies, regulators, ports, and environmental organisations and has found widespread support for strong enforcement.
A number of shipowners, including Maersk Line, have called for strong enforcement of the ECA rules to prevent competitors from gaining an advantage by flouting the law.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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