World News
IBIA CONVENTION: IMO Secretary General Hails Success of IMO 2020 Transition
IMO Secretary General Kitack Lim has used his keynote address at the IBIA Annual Convention 2020 to praise the bunker industry for its role in the successful IMO 2020 transition.
"The transition to IMO 2020 to low-sulfur fuel has definitely been a success, and this is great news for human health and the environment," Lim said at the convention on Tuesday.
"Bunker suppliers have been at the heart of this successful transition, along with refineries; therefore I commend all involved."
Moving beyond IMO 2020, Lim talked of the scale of the next challenge facing the bunker industry as shipping seeks to eliminate its carbon footprint.
"Research into developing zero-carbon marine fuels is under way, but more action is needed to speed up this process," Lim said.
"This requires huge investment, notably in R&D and infrastructure development.
"To achieve this, IMO is stepping up its effort to act as the global forum and promoter of R&D in zero-carbon marine fuels, bringing together interested stakeholders from the public and private sectors around the world."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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