World News
Q2 Volumes up 7 Percent for OW Bunker
Bunker supplier OW Bunker reports it increased its volumes sold in Q2 by 7 percent year-over-year to 7.2 million tonnes, thanks mainly to activity in Asia and the Americas.
"The second quarter results are satisfying," said CEO Jim Pedersen.
"With a volume growth of 7%, we are gaining market share in a difficult market.
"Our new operations are performing according to plans, and we maintain our full-year guidance."
Profits before special items and taxes more than doubled to $14.1 million, while gross profits were up 36 percent to $49.2 million.
Gross profit per tonne rose to $6.80 from $5.40 in Q2 2013.
The company paid $1 million over the quarter in costs related to its initial public offering (IPO).
OW Bunker completed its IPO in March, with analysts saying its growth of 20 percent in both 2012 and 2013 boosted investor interest.
The company announced earlier this month that it has formed a partnership with Petrocosta CI SA (Petrocosta) to increase its business in Colombia.
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 |
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