Three goals

Three goals

Three main pillars will underpin IBIA’s efforts over the next 12 months

Dear Members and Friends of IBIA, 

This is my first Chair’s letter for the IBIA magazine since I took over as the Chair of IBIA on 1 April this year. 

The IBIA Board of Directors and the Secretariat have been very active discussing and charting the Association’s goals for the coming term. I personally feel privileged for the opportunity to work alongside knowledgeable and committed professionals as we strive to achieve ambitious objectives in the interest of IBIA’s members and of the marine fuel industry at large. 

My years as a Strategy Consultant taught me that you should not have more than three goals … so here you have the three main pillars that IBIA’s focus will revolve around over the next 12 months!


Integrity will be an overarching goal considering how important it is for our industry to ensure a high level of professionalism and reliability. Shipping is one of the world’s most interconnected sectors with private companies interacting with institutions, banks, insurers and many other stakeholders. 

While recognising the value and quality of the players in our market, we see the need for increased transparency and ethics. As a first, important, step in this direction, I am pleased to share that we have tasked a working group with updating and strengthening the IBIA Code of Ethics, and we will be reporting on our progress in the coming months.

Licensing and MFM

Building on the focus on integrity, the Licensing and MFM working Group (chaired by Alexander Prokopakis) will continue to be a key part of our efforts, with the clear intent to facilitate the establishment of fair, transparent and consistent rules across the major bunkering hubs worldwide. A survey – launched in collaboration with BIMCO – was recently completed, and it will enable us to better engage with Port Authorities and other stakeholders.


Finally, it is clear how decarbonisation will continue to shape the industry for years to come and we are very pleased with the incredible work carried out by our Future Fuels Working Group, chaired by IBIA Vice Chair, Constantinos Capetanakis. We have been able to produce clear and valuable content on all new fuels for the benefit of our members; the next step will be to leverage our “in-house” know-how to provide even more in-depth and actionable analysis.

In addition to our efforts through the Future Fuels Working Group, IBIA is also playing an active role at the IMO, where our Director Unni Enemo takes part in discussions on creating the right regulatory framework to drive the energy transition.

All of the above requires one thing, more than anything else: members’ engagement. 

I encourage you to play an active role within IBIA to pursue a real impact in our industry. 

Our organisation plays a major role supporting the energy transition process as well as the introduction of transparent, sustainable and business-friendly regulations. Our ambitious goals can only be achieved through the active participation of our members through their skills and know-how. 

Do reach out to any of the members of the Board or to our strong Secretariat, in order to explore opportunities for you to join any of our Working Groups or Regional Boards. We look forward to welcoming you to a passionate and diverse team. 

Now that travelling and events have resumed, I look forward to seeing many of you at our upcoming conferences in Turkey (June 2022), Malta (September 2022) and Houston (November 2022)! 


Timothy Cosulich,


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