World News
Macoil Sidesteps Chatter in Market
Greek bunker comany Macoil International has brushed off suggestions that the company might be experiencing commercial difficulties amid talk in the bunkering industry that all is not well at the Athens-based firm.
A source close to the company told Ship & Bunker that it had no comment to make on the situation.
"The company is fine although volumes are down," the source said.
Rumours about the company's commercial health have reached the credit companies that monitor the bunker business.
A spokesperson from credit reporting and risk management consultancy Infospectrum said: "We are aware of market comments and are monitoring the situation. Until a full assessment can be carried out, we are refraining from recommending or declining credit."
Platts Ocean Intelligence, meanwhile, told Ship & Bunker that last week it downgraded Macoil to "credit a matter of trust and principals."
Macoil serves the Mediterranean region with operations in Gibraltar, Malta and Egypt.
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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