World News
OW Bunker Listing "Before Easter"
Bunker supplier OW Bunker expects to publish a letter detailing its stock market listing plans this week and be listed "before Easter," sources told Reuters.
The sources said Morgan Stanley, Carnegie, Nordea, and ABG would lead the initial public offering for the firm, which is now owned by private equity group Altor Equity Partners (Altor).
OW Bunker reported a profit of $54 million on sales of $14 billion in 2012, the latest results it released.
Reuters calculates that, if OW Bunker's profits increased in line with recent years in 2013, and if it is valued at about 15 times profit—a ratio used for peers such as World Fuel Services (WFS)—its value would be about $1 billion.
Soren Johansen, head of Danish activities for Altor, which bought the firm as part of its acquisition of the Wrist Group in July 2007, said in January that the company could be listed "in the foreseeable future."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 594.50 | 2.50 | 705.00 | 16.00 |
| Rotterdam | 520.50 | 5.00 | 665.00 | 13.00 |
| Houston | 531.00 | 19.50 | 684.50 | 8.00 |
| Fujairah | 580.00 | 4.50 | 760.00 | 4.00 |
| Global 20 Ports Average | 599.00 | 1.00 | 755.50 | 3.00 |
| Global 4 Ports Average | 564.50 | 0.50 | 704.00 | 0.50 |
| Global Average Bunker Price | 646.00 | 1.00 | 813.00 | 1.00 |
Popular Now More
-
Nov 06Move is part of a consolidation in its global operations. -
Nov 07The move is because of 'internal differences of opinion', a Sonan Bunkers representative tells Ship & Bunker. -
Nov 07Bunker Holding also now has biofuel availability at about 120 ports around the world, CEO Keld Demant tells Ship & Bunker.