EMEA News
Indian Oil Breaks Ground on Bunker Fuel Storage Facility in Mauritius
Indian state-owned energy firm Indian Oil Corporation Ltd has broken ground on a new bunker fuel storage facility at Mer Rouge, Port Louis in Mauritius.
India’s Petroleum and Natural Gas Minister Hardeep Singh Puri laid the foundation stone for the 27,500 mt capacity facility, IndianOil said in a social media post on Saturday.
IndianOil’s Mauritius unit will invest $25 million in the project, which is expected to expand its bunker fuel storage and bunkering capabilities.
The company was incorporated in 2001 and began physical operations in Mauritius in 2004. It offers a range of services including bunkering.
The facility will support Mauritius’ ambitions to develop its maritime energy infrastructure and attract more vessels to the country as it seeks to grow its Blue Economy.
Global supplier Bunker One said in May that Red Sea diversions and the Middle East conflict had boosted bunker demand in Mauritius. The company said demand at Port Louis rose by roughly 60% at the start of the Iran war as vessels diverted around the Cape of Good Hope.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| EMEA Average | 917.50 | 14.00 | 1740.00 | 21.00 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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