World News
IBIA CONVENTION: We Need to Hear the Voice of Buyers More, Says IBIA Chairman
Wednesday November 8, 2023
IBIA Chairman Tim Cosulich has called for more involvement from bunker buyers in the industry body to avoid overrepresentation of the supply side of the market.
Cosulich was interviewed on stage on a range of issues at the IBIA Annual Convention 2023 in Dubai on Wednesday.
"It's a key point for us in this organisation," Cosulich said of IBIA's membership makeup during the interview.
"What you say is absolutely true, that we have an underrepresentation of the buyer side.
"To be the voice of the industry, we need to be able to hear the voices of the components of the industry.
"Right now we definitely hear the voice of suppliers, of the traders and surveyors, and we need to hear the voice of buyers more than we do."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 611.00 | 1.50 | 730.00 | 7.00 |
| Rotterdam | 557.50 | 1.00 | 718.50 | 2.00 |
| Houston | 576.00 | 1.00 | 750.50 | 2.50 |
| Fujairah | 608.50 | 2.50 | 829.00 | 2.00 |
| Global 20 Ports Average | 624.50 | 2.50 | 817.50 | 3.00 |
| Global 4 Ports Average | 588.50 | 0.50 | 757.00 | 2.50 |
| Global Average Bunker Price | 678.50 | 3.50 | 883.50 | 2.00 |
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