World News
Fratelli Cosulich Gross Bunker Profit More than Doubled Last Year
Italy's Fratelli Cosulich Group saw gross profit from its marine fuel and LNG unit more than double last year.
The marine fuel and LNG unit saw EBITDA of EUR 27.2 million in 2022 and net profit of EUR 12.6 million, the firm said in its annual report this week.
"The 2022 outstanding results are directly linked to the capabilities of our team to transform this concept in a mantra for their daily operations," the company said in the report.
"The financial performance of our business unit has been the best to date, with a Gross Profit that more than doubled compared to the previous year.
"Due to the significant price increase during 2022, our efforts have been to optimize our credit lines while focusing on those transactions making the best economic contribution."
Fratelli Cosulich Group saw overall EBITDA of EUR 68.7 million, up by 80% on the year, while net profits jumped by 70% to EUR 52 million.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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