World News
Platts Buys Bunkerworld Publisher Petromedia
Platts Thursday announced the acquisition of Petromedia, the publisher of subscription-based marine fuels website Bunkerworld and industry credit reporting service Ocean Intelligence.
Platts said the purchase will help extend its coverage beyond traditional marine fuels and market fundamentals.
"Bunker fuel is a key link in this chain accounting for 70% of operational costs of waterborne commodity movement. The acquisition of Petromedia extends our bunker coverage beyond price discovery and market fundamentals," said Andy Bose, Platts general manager for petroleum.
"Together, we can better serve our customers with new, inventive solutions to address the growing challenges of this dynamic and evolving market."
Petromedia was founded in 2001, while Platts is owned by New York-Headquartered McGraw Hill Financial.
Commenting on the acquisition, Petromedia CEO Matt Cape said: "We are excited to join the Platts team who can provide the expertise and scale to help Petromedia accelerate and broaden our product development as complexities within the shipping and oil markets continue to evolve."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
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