World News
IBIA Imposes Code of Conduct on Board Members
Bunker industry body IBIA is seeking to tie its board members to the organisation's code of conduct.
The industry body has updated clause 17 of its bye-laws to require all members of its global board to adhere to the IBIA Code of Conduct, board chairman Tim Cosulich said in a note to members on Tuesday.
"This commitment underscores our intention that our leadership represents a true role model for the highest standard of ethical behaviour within our industry," Cosulich said.
"The IBIA Code of Conduct specifies the responsibilities and appropriate practices for our members.
"It reaffirms our pledge to enhance integrity, transparency, and professionalism in all our activities and engagements.
"Adherence to these principles enables us to further elevate our reputation, influence, and contribution in the international bunker industry."
The code of conduct sets out principles IBIA members should abide by, including adhering to all applicable laws and sanctions, and meeting contractual obligations in a timely manner. The code also sets out that members should seek to minimise their environmental impact and the risk of environmental damage.
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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