EMEA News
European Commission Approves NYK's 50% Acquisition of Avenir LNG
The European Commission on Tuesday approved Japanese firm NYK's purchase of a 50% stake in LNG supplier Avenir LNG from Stolt-Nielsen Limited.
The Commission said in a press release that the deal would not raise competition concerns, as the joint venture has negligible activities in the European Economic Area.
“The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Avenir LNG Limited (‘Avenir') by Stolt-Nielsen Limited (‘SNL'), both of Bermuda, and Nippon Yusen Kabushiki Kaisha (‘NYK') of Japan,” it said.
The transaction was examined under the Commission’s simplified merger review procedure.
In March, Stolt-Nielsen agreed to sell a 50% stake in Avenir LNG to NYK under a share purchase agreement.
Last year, Stolt-Nielsen gained full control of Avenir LNG after acquiring nearly all the shares held by Golar LNG and Aequitas.
Avenir LNG, founded in 2017, owns and operates a fleet of five LNG bunkering vessels, with two additional LNG bunkering vessels currently under construction.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 917.00 | 10.00 | 1295.00 | 34.00 |
| Rotterdam | 742.00 | 5.50 | 1435.50 | 54.00 |
| Houston | 765.00 | 2.00 | 1408.00 | 12.00 |
| Fujairah | 986.00 | 1.50 | 1725.50 | 38.50 |
| EMEA Average | 895.50 | 1.00 | 1721.00 | 29.50 |
| Global 20 Ports Average | 902.00 | 6.00 | 1547.50 | 29.50 |
| Global 4 Ports Average | 852.50 | 4.00 | 1466.00 | 34.50 |
| Global Average Bunker Price | 950.50 | 2.50 | 1606.00 | 21.00 |
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