World News
OW Bunker to Expand into the US
O.W. Bunker & Trading A/S (OW Bunker) has announced plans to expand its bunker operations into the US, in a move which it says completes its global presence.
The Wrist Group company already has operations in Asia, Europe, South America, Africa and the Middle East.
It is expecting to launch its first trading operation in Houston, Texas, during May 2012 and has plans to first expand on the East Coast, and then the West Coast.
The US office will also act as an internal purchasing center for the entire OW Bunker Group, which it says is an effort to ensure that "international customers have access to the best products at the best prices, and that they are delivered on time, when and where they want them."
Hans Staal, recently a manager with OW Bunker Malta, will be the Branch Manager of the new operation and responsible for implementing the company's best practices and quality standards.
According to Götz Lehsten, Executive Vice President, OW Bunker, expanding into the US is a natural move for the company as they look to consolidate a global leadership position.
"We have a presence in every other major market around the world, and we know that launching operations in the US provides real value to our international customers who want to be able to deal with OW Bunker representatives wherever they are in the world", he said.
Lehsten is also confident of appealing to local customers, who he says will benefit from their global infrastructure and network.
Today's press release also said that its customers will have access to their technical department, helping ship owners and operators overcome potential operational issues in relation to current and impending changes to sulphur regulations when switching from heavy to low sulphur fuels.
Götz Lehsten concluded, "This is a landmark moment for the business, and highlights the strength of our business model in delivering controlled and sustained expansion on a global basis. The US market presents a significant opportunity to continue on this growth trajectory."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Houston | 550.50 | 0.00 | 676.50 | 8.00 |
| Singapore | 596.50 | 0.50 | 688.00 | 1.00 |
| Rotterdam | 523.00 | 2.50 | 677.00 | 1.00 |
| Fujairah | 582.00 | 2.50 | 758.50 | 5.50 |
| Global 20 Ports Average | 599.50 | 0.50 | 757.50 | 2.00 |
| Global 4 Ports Average | 563.00 | 1.50 | 700.00 | 4.00 |
| Global Average Bunker Price | 644.50 | 1.50 | 813.50 | 0.50 |
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