World News
Integr8 Hires Four Ex-OW Bunker Traders
Bunker trading company Integr8 Fuels says it has snapped up four former OW Bunker employees, hiring two in Singapore and two in Dubai.
"For bunker trading companies left untouched by recent events, the collapse of OW has created a number of business opportunities," said Tushar Gole, managing director of Integr8.
"Integr8 is considering a number of these opportunities and has so far employed a number of key ex-OW group staff in Asia and the Middle East."
Mona Liu and Nikita Miroshnik will join the company's Singapore office, while Rasmus Holm Jensen and Mirko Antichi will join its Dubai operations.
Gole said that the OW Bunker collapse has left Integr8 "unscathed" and that it has been helping its customers and partners to navigate the legalities of the failed bunker supplier's liquidation process.
"Integr8 expects the next few months to be turbulent for the bunker industry, but it considers this period of flux an opportunity for those companies with a strong balance sheet and good liquidity to consolidate their position," he said.
Other companies have also moved in to capitalize on OW Bunker's collapse, with Swede Chem Tankers AB having taken over time charters on two tankers the supplier formerly operated.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 555.00 | 5.50 | 672.00 | 3.00 |
| Rotterdam | 516.50 | 4.00 | 653.50 | 0.50 |
| Houston | 556.00 | 8.00 | 681.00 | 10.00 |
| Fujairah | 548.00 | 1.00 | 749.50 | 2.50 |
| Global 20 Ports Average | 577.00 | 0.50 | 751.50 | 2.00 |
| Global 4 Ports Average | 544.00 | 1.50 | 689.00 | 4.00 |
| Global Average Bunker Price | 629.00 | 0.50 | 800.50 | 0.00 |
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