World News
Methanol Institute Wins Consultative Status at IMO
Industry body the Methanol Institute has been granted consultative status at the International Maritime Organization.
The organisation plans to use its presence at the IMO to work more closely with member states on regulatory frameworks for low-carbon fuels, develop methanol bunkering standards and create market-based measures to support the alternative fuel, it said in an emailed statement.
"Methanol Institute steps into its consultative status at a pivotal moment, when the shipping industry continues to make strides in the transition to alternative fuels with a significant rise in orders for cleaner ships." Gregory Dolan, CEO of the Methanol Institute, said in the statement.
"We are grateful to IMO member states for recognizing the added value our organization's expertise can bring to the table, and we are looking forward to contributing to the IMO's important work towards achieving net-zero by 2050."
Consultative status allows the organisation to attend IMO meetings, view documents and participate in discussions about the regulations generated by the UN body.
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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