World News
IBIA Chairman Hails 10% Increase in Membership
Bunker industry body IBIA has seen a 10% increase in its membership over the past year.
The industry body has seen growth in both the size of its membership and the diversity of the market participants it represents, Constantinos Capetanakis, chairman of IBIA, said at its annual dinner in London last night.
Capetanakis took over as IBIA chair in April 2024.
"When, eleven months ago, I stood before you and my turn started, I made a promise that we would grow both in numbers and substance," Capetanakis said.
"We have already witnessed a 10% increase in our membership and even greater representation through shipowning, bunker supplying and service companies.
"Although whether you are on the buying, selling or service side really doesn't make a difference; what does is respect for one another, what does is passion for energy and a sustainable way forward."
IBIA's annual dinner is one of the largest events in the bunker industry's calendar, hosting almost 1,200 people at a hotel in London at the start of IE Week.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 558.50 | 11.50 | 685.50 | 9.00 |
| Rotterdam | 535.50 | 5.50 | 677.50 | 10.00 |
| Houston | 558.50 | 7.50 | 728.00 | 4.50 |
| Fujairah | 559.00 | 9.50 | 769.00 | 1.00 |
| Global 20 Ports Average | 591.00 | 5.00 | 785.00 | 6.50 |
| Global 4 Ports Average | 553.00 | 8.50 | 715.00 | 6.00 |
| Global Average Bunker Price | 623.00 | 18.00 | 824.00 | 7.00 |
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