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IBIA and S&P Global Platts enter IMO 2020 collaboration agreement

12 Sep 2019

The International Bunker Industry Association (IBIA) and S&P Global Platts on Monday (9 September) entered on a collaboration agreement to help shipping market participants prepare for IMO 2020.

Under the terms of the agreement, Platts and IBIA will offer shipping industry market participants:

  • Joint webinars series – to update and educate IBIA members and S&P Global Platts clients on practical market related developments ahead of IMO 2020 implementation, featuring speakers from both organizations.
  • Price assessments and data insight – Platts will provide IBIA with complementary access to its bunker data and insights including Bunkerwire and its full suite of 0.50% Marine Fuel Oil price assessments to help inform and add transparency to IBIA research.
  • Platts Market On Close demonstrations – complementary tours to help IBIA members around the world understand the Platts MOC, the process which ensures Platts price assessments reflect market value through a robust and transparent methodology based on tested market data.
  • Global conference collaboration – including the provision of Platts Pricing and Analytics speakers and IBIA experts at IMO related conferences
  • Platts IMO 2020 insight to be made available to IBIA members including white paper research, news and analysis

“We are very pleased to work with S&P Global Platts in bringing industry stakeholders the tools they need to manage the transition to IMO 2020,” said Unni Einemo, Director of IBIA and its representative at the IMO.

“IBIA has been heavily engaged in working at the IMO to help develop guidelines for effective implementation, including preparations such as tank cleaning contained in the IMO's Ship Implementation Plan, and recently in a Joint Industry Project to develop guidance on the safe supply and use of compliant fuels.

“Through this new collaboration, we will also have access to market data and analysis from a trusted partner.”

“We are delighted to strengthen our close partnership with IBIA which aligns with our ongoing commitment to support the global shipping community as it transitions towards IMO 2020,” said Vera Blei, Global Director, Head of Oil Markets, S&P Global Platts.

“The transparency offered by our full suite of Marine Fuel 0.5% and HSFO price assessments together with the in-depth market insight provided by our global News and Analytics teams plays an important role in helping the industry understand and comply with what many consider to be the most disruptive change in living memory.”

Photo credit: S&P Global Platts
Published: 12 September, 2019


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