World News
Buckeye Finalises Acquisition of 50% Share in VTTI
VTTI BV Wednesday announced that the acquisition by Buckeye Partners, L.P. (Buckeye) of a 50 percent share of VTTI BV, VTTI Energy Partners LP (VTTI) for $1.15 billion, which was originally announced in October, has now been completed.
"The joint shareholding of Buckeye and Vitol will add greater strategic value to VTTI and will further strengthen VTTI's position as a leading independent provider of energy storage solutions," said VTTI.
As Ship & Bunker has reported, with the finalisation of the deal, VTTI will now be owned indirectly through a 50/50 split between Buckeye and Vitol.
"It is intended that the joint shareholding of Buckeye and Vitol will add greater strategic value to VTTI and will further strengthen VTTI's position as a leading independent provider of energy storage solutions," Vitol explained in October.
Last year, Vitol, through its Vitol Investment Partnership Limited's (VIP) investment vehicle, completed its own purchase of the remaining half of VTTI.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 628.00 | 1.00 | 736.50 | 0.50 |
| Rotterdam | 569.00 | 10.00 | 730.50 | 23.00 |
| Houston | 591.00 | 3.50 | 770.50 | 6.00 |
| Fujairah | 626.50 | 4.50 | 886.50 | 5.00 |
| Global 20 Ports Average | 644.00 | 2.00 | 825.50 | 0.00 |
| Global 4 Ports Average | 603.50 | 0.50 | 781.00 | 3.00 |
| Global Average Bunker Price | 700.00 | 0.00 | 883.50 | 0.50 |
Popular Now More
-
May 07Claim filed at in the Southern District of New York following a 1750 mt stem in January. -
May 08Within five years after installation, more than 95% of the ships with the most common scrubber systems reach break even. -
May 08The new hire previously a bunker trader for Ipiranga.