World News
Singaporean Owner Sells Bunker Tanker for $485,000
Singapore tanker owner Yujin International Ltd. (Yujin) says its subsidiary company has sold another bunker tanker, M/T Ruby Star, for $485,000, leaving it with two regional tankers.
The 1990-built, 4,280 deadweight tonne (dwt) single-hull tanker has been delivered to its new owner, a Panama registered operator.
The proceeds will be used partly to repay a bank loan and for working capital purposes, the company said.
Yujin, which has sold off three of its four bunker tankers this year, turned a profit in the first half of 2013 after losing money during the same period last year.
The company has said it is "in discussions with potential strategic partners to explore other business opportunities in both related as well as non related industries."
Its two remaining regional tankers, Arcturus and Team Bee, are on time charter.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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