World News
Monjasa Acknowledged for Bunker Supply Chain Vetting Efforts
Monjasa has put a new vetting process in place for third party bunker suppliers as part of its Health, Safety, Environment and Quality efforts.
Although no formal announcement was made to mark the start on the initiative, the move has nevertheless attracted the attention of the upcoming Seatrade Maritme Awards for which Monjasa has been shortlisted in the Safety Initiative category
"Our Supplier Vetting Process was implemented to manage all aspects of Monjasa's supply chain and build mutually beneficial relationships with our suppliers," a spokesperson for Monjasa told Ship & Bunker.
"We have thus initiated vetting of our suppliers to ensure they live up to our Health, Safety, Environment and Quality requirements when acting on behalf of us. Based on this evaluation, we decide a risk level which is then recorded in our system and used to understand the supplier's risk level next time we consider them for bunker supplies."
With the upcoming IMO2020 rule set to come into force from January 1, 2020, controls for counter-party risk are set to play an increasingly important role.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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