World News
Joint IACS and Industry Working Group to Examine Fuel Data Collection
The International Association of Classification Societies (IACS) will participate in a joint working group with other industry players on fuel data collection, BIMCO reports.
The decision is said to have come at an annual tripartite meeting between shipowners, shipbuilders, and classification societies, organised by INTERTANKO.
BIMCO says that the creation of the joint working group was just one among many initiatives that were agreed to at the meeting in order to address technical risks arising from the "complex regulatory regimes and timelines in combination with untested and developing technologies."
Attendees of the meeting, which was held in South Korea on October 16 and 17, are also reported to have expressed concern with the likelihood that the Ballast Water Management Convention could enter into force very shortly.
"Today, more than 11 years after the adoption of the treaty text, there is still little confidence in the capability of type approved equipment to perform satisfactorily under operational conditions," it was noted.
"Concerns are significantly heightened by the lack of type approved equipment in the US to meet the national regulation already in force. This leaves owners and shipyards unable to make long-term investment and planning decisions."
Last month shipbroker Charles R. Weber Company, Inc. (CR Weaver) said that an already buoyant tanker market could get a further boost as tonnage is taken out of service for special surveys or dry docking ahead of the implementation of the 2004 Ballast Water Management Convention.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 2.50 | 611.00 | 4.00 |
| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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