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ZIM Signs Bunker Deal with Israeli Refiner
Israel's Oil Refineries Ltd. (ORL) says it has reached a new bunker agreement with ZIM Integrated Shipping Services Ltd. (ZIM), the nation's largest container shipping company.
ORL will sell fuel oil and diesel for ZIM ships anchored in Israel, with prices based on international market condition.
The deal, a continuation of previous contracts between the two companies, extends until the end of 2013.
"Without such an agreement the Company's sale of bunker fuel in Israel is expected to decline," ORL said.
Israel Corp., which owns 99.7 percent of ZIM, also has a 37 percent interest in ORL, which is the largest oil refiner and petrochemical producer in the country with 9 million tonnes per year of crude oil refining capacity, according to the Israel Corp. website.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 625.00 | 9.00 | 732.00 | 15.00 |
| Rotterdam | 577.50 | 3.50 | 739.50 | 1.00 |
| Houston | 595.00 | 0.50 | 767.00 | 4.50 |
| Fujairah | 628.50 | 4.00 | 878.50 | 11.00 |
| Global 20 Ports Average | 645.50 | 0.50 | 827.00 | 5.00 |
| Global 4 Ports Average | 606.50 | 0.50 | 779.50 | 0.50 |
| Global Average Bunker Price | 703.50 | 4.00 | 886.00 | 6.00 |
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