The International Organisation for Standardisation (ISO) has published a new standard, ISO 24060, for a ship software logging system to be used for operational technology onboard ships.
The new standard follows on from Baltic and International Maritime Council (BIMCO) and the Comité International Radio-Maritime (CIRM), taking the concept of the onboard software log to ISO.
With this new ISO standard, each ship will be able to keep track of information about thousands of different software installations, according to BIMCO.
Particularly, the shipping software logging system requires an initial log entry for equipment and includes a repository of electronic service reports associated with log entries.
In the meantime, Marine Bunker Exchange (MABUX) World Bunker Index continued its moderate decline on week 33. The 380 HSFO index decreased to US$440.01/MT, the VLSFO index fell to US$533.37/MT, while the MGO Index decreased to US$633.46/MT.
In addition, the MABUX Amsterdam-Rotterdam-Antwerp (ARA) LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region surged in the period from 11 to 18 August to US$982.31/MT.
At the same time, the average value of the ARA LNG Bunker Index increased by US$11.34 compared to the previous week.
The average price of MGO LS in Rotterdam for the same period decreased by US$10/MT, while the average price difference between bunker LNG and MGO LS in Rotterdam increased to US$370.76.
The average weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - during the week fell to US$95.79. In the meantime time, the average value of SS Spread in Rotterdam also decreased at US$100.
Moreover, the average SS Spread also fell to US$112.17 in Singapore and at the end of the week.
Correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (MABUX Digital Benchmark) in the four global largest hubs over the past week showed that 380 HSFO fuel remained undervalued in all selected ports, except Fujairah, where this fuel grade was overvalued by US$11 average.
In other ports, the average underestimation was minus US$15 in Houston, minus US$31 in Rotterdam and minus US$38 in Singapore. Overall, the MABUX MBP/DBP Index for 380 HSFO fuel remains stable in all selected ports.
As for VLSFO fuel grade, it was also underestimated in all four selected ports, according to the MABUX MBP/DBP Index: in Houston, the average underpricing was minus US$11, in Rotterdam - minus US$28, in Fujairah - minus US$35, in Singapore - minus US$37.
