World News
IBIA to Tackle Ethical Practice and Bunkering
Industry trade association the International Bunker Industry Association (IBIA) is developing a guide to ethical practice in the bunker industry.
Work on the guide, which is in the hands of an IBIA working group, includes an ethical code for the whole industry value chain. The guide will also look at an ethics and compliance accreditation programe, according to a post on its website.
"Ethics, at its core, means doing the right thing regardless of whether or not there's a legal obligation to do so," said IBIA CEO Justin Murphy.
"Doing the right thing and making informed choices have never been more important in our industry," Murphy added.
Which is why IBIA is keen to take the ethical bunkering conversation forward.
Among the issues facing the industry are the introduction of mass flow meters and operator compliance with the new global sulfur cap post-2020.
IBIA's annual convention takes place in Singapore on 8 and 9 November.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 644.50 | 2.50 | 765.00 | 14.00 |
| Rotterdam | 607.50 | 0.50 | 764.50 | 24.50 |
| Houston | 632.50 | 4.00 | 807.50 | 5.00 |
| Fujairah | 650.50 | 1.00 | 882.50 | 6.00 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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