World News
Cockett Group Launches V-Marine Fuels
Cockett Group has announced in an emailed press release that effective March 1, 2013 it will separate its trading and physical supply activities, and that all its physical activities will then operate as V-Marine Fuels.
The move follows last years acquisition of 50 percent of Cockett by Vitol, with the company saying it will "bring even greater clarity and value to its customers."
The existing physical activities, namely Associated Bunkeroil Contractors (ABC) and Cockett Marine Oil Supplies Ltd (CMOS), will be absorbed into the new division, which it said will provide it autonomy for global expansion.
"V-Marine Fuels plans to develop and strengthen its positions in the Rotterdam and UK / English Channel markets and will imminently launch a new physical supply operation in Houston, USA," it added.
Further announcements about the new Houston operation were expected to be made soon.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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