World News
IMO Moves to Delay BWM Convention Implementation for Existing Vessels
The International Maritime Organization's (IMO's) 71st session of the Marine Environment Protection Committee (MEPC 71) moved to extend compliance dates for the Ballast Water Management (BWM) Convention for existing vessels, Seatrade Maritime reports.
Following Finland's accession of the BWM Convention last September, IMO said the convention would enter into force on September 8, 2017.
However, MEPC 71 decided that ships constructed after September 8, 2017 must comply on delivery with the BWM Convention, while existing vessels in general will have until the first IOPP renewal survey after September 8, 2019.
As Ship & Bunker has previously reported, some analysts believe that tanker rates could get a further boost as tonnage is taken out of service for special surveys or dry docking ahead of the BWM Convention's implementation.
The latest decision to delay implementation on some vessels is expected to have an impact on shipowners' choices around BWM system installation.
In another related development, IMO says that, with Honduras becoming the latest country to accede to the treaty, the number of states signed up the BWM Convention has reached 61, representing 68.46 percent of the world's merchant fleet tonnage.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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