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Coronavirus May Accelerate Digitalisation of Bunker Industry: IBIA
Measures being implemented to ensure social distancing while carrying out bunker operations may accelerate the industry's moves towards using electronic paperwork, according to IBIA.
"There is a saying that 'Necessity is the mother of invention'," IBIA Director Unni Einemo said a in a note on the industry group's website Wednesday.
"Physical distancing measures taken across the world to slow the spread of the coronavirus has demonstrated this in our industry.
"This should lead to growing recognition that electronic documentation is useful and acceptable, as long as there are safeguards against falsifying it."
IBIA held discussions with members on this subject at the end of April, Einemo said.
Barge and ship crews are finding ways of avoiding exchanging physical documents to avoid spreading the coronavirus, IBIA said, but there is some concern over whether electronic bunker delivery notes (BDNs) will be accepted by relevant authorities.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 6.50 | 680.00 | 10.50 |
| Rotterdam | 514.00 | 2.50 | 676.00 | 7.50 |
| Houston | 547.50 | 0.00 | 671.50 | 1.50 |
| Fujairah | 561.00 | 0.50 | 751.00 | 1.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 759.00 | 0.00 |
| Global 4 Ports Average | 548.00 | 2.00 | 694.50 | 5.00 |
| Global Average Bunker Price | 633.50 | 1.00 | 798.50 | 0.50 |
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