World News
SIBCON 2024: Singapore to Cut Frequency of Mandatory MFM Checks
Singapore's authorities are set to cut the frequency of mandatory checks on the functionality of mass flow meters.
The requirement for zero-verification tests on MFMs will be cut from twice a year to once a year, Amy Khor, senior minister of state in Singapore's Ministry of Transport, said in a keynote speech at Sibcon on Wednesday.
"Next year MPA will reduce the frequency of verification tests for MFMs from twice a year currently to once a year," Khor said.
"This move is expected to help the industry save approximately S$300,000 per year."
The change will come in a revision to the SS 648 standard applicable from April 1, 2025, a source familiar with the situation told Ship & Bunker on the sidelines of the industry event.
The change is being made because the regulator believes the current levels of reliability of MFMs in Singapore can be maintained with fewer checks, thus saving the industry some money. The zero-verification tests on MFMs currently cost about S$1,500 per barge each time; with 206 barges currently registered in Singapore, this will add up to an industry-wide saving of around S$309,000/year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 609.50 | 0.50 | 695.00 | 5.00 |
| Rotterdam | 556.50 | 11.50 | 691.50 | 13.00 |
| Houston | 555.00 | 1.00 | 687.50 | 0.00 |
| Fujairah | 601.50 | 5.00 | 787.00 | 4.50 |
| Global 20 Ports Average | 622.00 | 6.00 | 767.50 | 4.00 |
| Global 4 Ports Average | 580.50 | 4.00 | 715.00 | 5.50 |
| Global Average Bunker Price | 660.50 | 3.50 | 836.50 | 5.00 |
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