World News
IMO Approves Singapore Resolution to Safeguard Key Shipping Lanes
The IMO has approved a Singapore-led resolution aimed at safeguarding key international shipping routes during the 137th session of the IMO Council held last week.
The resolution was co-sponsored by 30 IMO member states, including Indonesia and Malaysia, the Maritime Port Authority of Singapore (MPA) said in a press release on Friday.
It reaffirms navigational rights and freedoms for commercial vessels transiting vital shipping lanes and international straits in line with the United Nations Convention on the Law of the Sea (UNCLOS).
It also calls on countries to uphold IMO regulations and standards.
It also underlines the importance of protecting the safety, health and well-being of seafarers, recognising their vital role in global trade and supply chains.
“As an open and trade-dependent economy, Singapore supports a stable, rules-based international order to ensure uninterrupted global trade, resilient supply chains, and food and energy security,” MPA said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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