The International Bunker Industry Association (IBIA), with support from BIMCO, has released survey results indicating that there is wide support for the adoption of bunker licensing schemes and mass flow meters (MFM).
The online survey was launched in February 2022 and 189 respondents participated and shared their experiences and opinions.
The survey revealed that 91.5% of respondents agreed that there is a need for increased transparency between bunker suppliers and buyers. More than nine out of 10 respondents prefer taking bunkers from suppliers having a mass flow meter installed, and more than four out of five respondents prefer ports implementing bunker licensing.
Looking to the case of Singapore, they seemed to agree that the introduction of a Bunker Licensing Program (74.5%) and mandatory use of MFMs (76%) have had a positive impact on the bunker market in the port.
About half of the respondents assumed introducing these measures will result in fewer suppliers and nominal increased bunker prices, but not a huge price increase.
BIMCO’s Head of Marine Environment, Aron Sorensen, said: “Bunker licensing and properly certified and used MFMs can build transparency and trust in the bunker sector, improve market conditions, and help build a level playing field for quality operators. The survey findings show this is what the industry wants, and it seems an investment worth making to help raise the standards and ensure transparency.”
