World News
New Player Set to Launch Global Bunker Operations
A new bunker trading group is preparing to launch operations at a number of global locations, according to information obtained by Ship & Bunker.
Soyuz Bunkering Group (SBG), understood to be part of Russia's Summa Group, is reported to have recently established offices in Dubai and Rotterdam, while Souz Asia, an existing sister company that has been operating out of Hong Kong for the past two years, will be re-branded into the group at a later stage.
It is understood SBG will utilise its connections in Russia as a platform to build the company and is aiming to start operations as early as the end of this year.
Peter Grunwaldt, who has previously held positions within the industry at Maersk and the Glencore Group, is running the new set-up from the group's headquarters in Dubai.
Summa Group is a Russian company with significant investments in port logistics and shipping as well as commodity trading via another company in Geneva, Souz Petrolium.
Souz Petrolium is lead by Andy Summers, Trafigura's former head of Crude and Fuel trading, while the Summa Group is owned by Russian billionaire Ziyavudin Magomedov.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 623.50 | 1.00 | 726.50 | 0.50 |
| Rotterdam | 566.00 | 3.50 | 737.00 | 2.50 |
| Houston | 585.00 | 8.00 | 750.00 | 12.50 |
| Fujairah | 628.00 | 1.00 | 881.00 | 2.00 |
| Global 20 Ports Average | 636.00 | 3.50 | 815.50 | 4.50 |
| Global 4 Ports Average | 600.50 | 3.50 | 773.50 | 4.50 |
| Global Average Bunker Price | 690.00 | 1.50 | 876.50 | 5.00 |
Popular Now More
-
May 16The first real data are starting to emerge on the cost paid by the container industry for shipping's inclusion in the European Union's emissions trading system. -
May 16The firm made its first sale in Port Louis -- also its first entry into Africa -- on May 13. -
May 16The company is targeting 30-50% growth from this level of traded volumes in 2024, and in Q1 already saw 35% growth from the same period a year earlier, an Oilmar representative tells Ship & Bunker.