The recently-elected Chairman of the International Bunker Industry Association, Constantinos Capetanakis, has pledged to raise the group’s profile during his term.
Speaking to Bunkerspot, Capetanakis, who is Bunker Director at owner and operator Star Bulk, trading in NASDAQ, said that while the Association had managed to fully overcome a ‘pretty dire’ situation brought about by the global pandemic, there is still work to be done to increase its visibility beyond the traditional bunker industry.
‘IBIA is focusing in the attempt to make clear - and it will be made clear, I assure you - that IBIA has no limits as far as the membership is concerned,’ says Capetanakis. ‘All stakeholders of the marine energy industry have a role to play within IBIA, and they have every practical reason and benefit to be within IBIA.’
As previously reported by Bunkerspot, last year saw a reshuffle at the secretariat level of IBIA with the appointments of Dr. Edmund Hughes and Alexander Prokopakis as the Association’s industry specialist and representative at IMO and Executive Director, respectively. According to Capetanakis, the strategic reorganisation will enable the Association to focus on its two main strategic objectives: policy and growth.
‘Being an NGO with a consultative status within the IMO allows IBIA to make specific interventions, either on its own or together with third parties with whom we have entered into some form of cooperation – and relating to various issues which aim to clarify regulations, be it biofuels, well-to-wake lifecycle analysis, a global standard for fuels,’ explains Capetanakis.
At the same time, the Association is seeking to forge alliances with third party organisations in a bid to increase its scope.
‘We already have such important knowledge alliances in place; with BIMCO, GCMD, to name a few. We value these a lot and are actively discussing for other similar ones. IBIA has a diverse membership. It may be perceived up to a point by some as a bunker suppliers’ association but it is not, and I am certainly a proof of that, with my Company, Star Bulk, being one of the biggest dry bulk owners and finding immense and practical benefit in being within IBIA and getting fully involved in the running of the Association’ says Capetanakis.
‘We have stakeholders from all corners of the marine energy industry. Whether you are a seller, a buyer, a producer, a service provider, a technical expert, a classification society, a lawyer, a financier, an energy major or a refiner – IBIA is the perfect, in my opinion, place to be in order to confer, participate, obtain intelligence information, and issue specific resolves.’
As examples, Capetanakis points to its Conferences and Annual Convention, as well as to some of the Association’s working groups on future fuels, digitalisation and mass flow meters. However, given IBIA’s broadening member base, it will not necessarily be taking ‘for or against’ positions on all topics. Rather, it will seek to highlight the pros and cons with all members in mind. For instance, on the topic of mass flow meters, Capetanakis explains: ‘We are in favour of MFMs. We think they will greatly assist in bringing further clarity and transparency in the industry – we have no doubt about it. We urge in all our talks, private and public, all stakeholders to seriously consider the advantages of MFMs. We don’t consider MFMs as a panacea – obviously, nothing can play this role – but they are very helpful in reducing significantly all grey areas in the provision of bunkers.’
Capetanakis continues: ‘Having said that, at the same time, we recognise that MFMs are not the priority for certain geographical locations. We hear that and we respect that. In these cases, what we do is highlight the advantages; highlight the fact that there is no catch in having an MFM – nothing wrong by way of losing market share – this has been proven in Singapore – nothing will dissuade a bunker buyer to buy if you have an MFM. IBIA’s position has been quite clear in that and vocal.’
Other topics, such as electronic bunker delivery notes (e-BDN) ‘we are pro’, says Capetanakis. The Association will not, however, be taking a stance on specific fuels.
‘First, because we think there will be a number of alternatives, not just one. And second, because IBIA’s position is not to lobby for a specific fuel but to present a holistic picture of all the fuels.’
Indeed, future fuels were among the key topics discussed at the eighty-first Marine Environment Protection Committee Meeting (MEPC 81) at the IMO’s London headquarters at the end of March. Capetanakis was speaking to Bunkerspot ahead of the crucial meeting but he will probably have been buoyed by the progress on a goal-based marine fuel standard and lifecycle emissions analysis (LCA).
‘If all the LCA guidelines have been clarified, or are on their way of being clarified it’s good because we have so many fuel options. Then, technical experts will set to work and outline once again but this time with full backup of regulation,’ says Capetanakis.
‘Secondly, if we have specific measures which will be implemented…then again we know and we can make announcements and stakeholders can make projections as to what it will cost them to proceed to solution number 1,2,3 etc.’
And according to Capetanakis, Arsenio Dominguez, the recently-appointed Secretary-General of the IMO, is the right man to lead the organisation as it seeks to navigate shipping’s path to net zero emissions.
‘I’m very optimistic about IMO’s new Secretary-General whom I have met. Mr Arsenio Dominguez appears in my mind clearly in favour of moving things along, respecting everyone, hearing everyone but at the same time he appears to me as a “doer” and I have faith in the IMO,’ says Capetanakis. ‘I am against those who complain about the IMO. I think they do not fully grasp the intricacies of such a huge organisation and the role it plays.’
