World News
"Traceability, Transparency" Head Consortium List for Blockchain in Bunkering
A consortium of maritime players is to examine the issue of "traceability and transparency" in a blockchain bunker transaction.
The consortium, which includes bunker industry trade body IBIA and class society and maritime services firm Lloyds Register (LR), will look at how blockchain technologies might help provide "an efficient, tamper-resistant and auditable chain of custody on quality and quantity recording activities".
The project comes under the LR-funded Maritime Blockchain Labs (MBL) initiative which is part of Blockchain Labs for Open Collaboration (BLOC).
Chief executive and BLOC co-founder Deanna MacDonald said the industry-led approach to the issue was essential.
"Too often with blockchain, and digital initiatives in shipping in general, we see a top-down approach where new technology is pushed on the industry," MacDonald said.
The executive added that ignoring "complex human and governance elements" could put a limit on the technology's usefulness.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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