World News
Peninsula Lifts Liquidity Ahead of IMO 2020
Peninsula Petroleum says it has lifted the group's global financing facilities by $150M to over $700 million.
"These increased lines are intended to support PPG's growth plans in the higher price environment expected due to IMO 2020," the bunker supplier explained.
The lines include a renewal of its European receivables finance facility with an uplift of $100M, as well as the Group's Singapore facilities.
"It is another positive endorsement for PPG's business model to see the same lending group remain intact and all increase their respective participation amounts," said Peninsula's CEO, John A. Bassadone.
"Peninsula's transition into a global, integrated bunker supplier is more relevant than ever in the context of 2020 and the opportunities it brings for our worldwide platform. We look to the future with enhanced optimism and confidence alongside our banking partners."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 555.00 | 5.50 | 672.00 | 3.00 |
| Rotterdam | 516.50 | 4.00 | 653.50 | 0.50 |
| Houston | 556.00 | 8.00 | 681.00 | 10.00 |
| Fujairah | 548.00 | 1.00 | 749.50 | 2.50 |
| Global 20 Ports Average | 577.00 | 0.50 | 751.50 | 2.00 |
| Global 4 Ports Average | 544.00 | 1.50 | 689.00 | 4.00 |
| Global Average Bunker Price | 629.00 | 0.50 | 800.50 | 0.00 |
Popular Now More
-
Dec 23Since its launch in late June, the company's first 100 deliveries have primarily focused on LSMGO supply by barge to container ships and tankers in New York Harbor, CEO John Barbarise tells Ship & Bunker. -
Dec 23The company carried out worldwide marine fuel trading from offices in Singapore. -
Dec 24The 9,500 DWT heavy lift vessel Ursa Major sustained an engine room explosion in the Strait of Gibraltar at about 12:30 PM local time on Monday.