World News
StormGeo Buys Bunker Procurement Platform From Brokerage NSI
Voyage optimisation and weather intelligence firm StormGeo has bought a bunker procurement platform from brokerage NSI to add to its marine fuel management services.
The firm has now launched its Bunker Management product, provided through its s-Insight platform, it said in an emailed statement on Tuesday.
NSI's procurement tool has historically handled the management of 2.5 million mt/year of bunker purchases for more than 75 clients. NSI will be a client of StormGeo, and will continue to serve their clients through the Bunker Management service.
"We at NSI are delighted to have found a new owner to our procurement tool – a company that envisions the same market neutrality and data control whilst adopting it into an integrated platform for advanced voyage optimization," Dave Wade, managing director of NSI, said in the.statement.
"We will remain a client of StormGeo's procurement tool."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 2.50 | 673.00 | 1.00 |
| Rotterdam | 514.50 | 1.00 | 651.00 | 1.50 |
| Houston | 545.00 | 4.50 | 671.00 | 1.00 |
| Fujairah | 543.00 | 0.50 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.50 | 748.00 | 8.00 |
| Global 4 Ports Average | 539.00 | 1.50 | 685.50 | 0.00 |
| Global Average Bunker Price | 626.50 | 2.00 | 800.50 | 0.50 |
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