World News
IBIA CONVENTION: IBIA Board to Be Chaired by Bunker Buyer For First Time
Constantinos Capetanakis is expected to become the next chairman of IBIA from next year, in the first time the industry body's board has been presided over by a bunker buyer.
The current chairman, Tim Cosulich, alluded to his likely successor at the IBIA Annual Convention 2023 in Dubai on Wednesday.
Capetanakis is currently vice chairman of the IBIA board, a position that typically puts its holder in place to take over as chairman once the position becomes vacant. The decision has yet to be formally taken, and the next chairman will be announced at IBIA's annual dinner in February.
Cosulich became IBIA chairman in April 2022, and his term will come to an end in March of next year.
"Constantinos will be a fantastic chair," Cosulich said at the conference.
"I hope he has as much fun as I did with the board and the executive committee."
Capetanakis has been bunker director of shipping firm Starbulk since 2019, and first joined IBIA's board in 2020.
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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