World News
Wärtsilä to Divide Marine Business Into Three Independent Units
Technology group Wärtsilä is set to divide its marine business into three separate, independent units, the company said Thursday.
The company's marine business will be divided into Marine Power, focusing on engines and propulsion, Marine Systems, focusing on scrubbers, gas solutions, marine electrical systems and seals and bearings, and Marine Voyage, focusing on navigation, simulation and training, fleet operation solutions and ship traffic control solutions.
"Our customers will benefit from increased agility and speed in decision-making, as well as an even more empowered and effective frontline," Jaako Eskola, CEO of Wärtsilä, said in an emailed statement Thursday.
The company's financial reporting will reflect the new structure from the second quarter of this year, it said.
Seeing separate accounts for the Marine Systems unit may give the bunker industry more visibility on the health of the company's scrubber business.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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