World News
TFG Marine Completes Majority Stake Acquisition in Vilma Oil Med
Tuesday December 3, 2024
Global marine fuel supplier and trading firm TFG Marine has completed its acquisition of a majority stake in Spanish bunkering company Vilma Oil Med.
The acquisition, first announced in April, has now been completed, the company said in a LinkedIn post on Monday.
Vilma Oil Med has been in the bunker business around the Strait of Gibraltar and Western Mediterranean for 18 years, supplying more than 1,500 vessels per year. The company is based in Madrid, and has an 84,000 m3 storage terminal and a bunker barge.
"This partnership combines our shared expertise to deliver enhanced reliability, efficiency and innovation in marine fuel services to European customers," the company said in the statement.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 551.00 | 2.00 | 663.00 | 5.50 |
| Rotterdam | 499.50 | 4.00 | 650.00 | 3.00 |
| Houston | 549.00 | 0.50 | 677.00 | 0.50 |
| Fujairah | 545.50 | 1.00 | 747.00 | 1.00 |
| Global 20 Ports Average | 577.50 | 1.00 | 759.00 | 0.50 |
| Global 4 Ports Average | 536.00 | 0.50 | 684.50 | 2.00 |
| Global Average Bunker Price | 623.50 | 1.00 | 808.50 | 5.50 |
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Dec 03The acquisition was first announced in April.