World News
Total, Zhejiang Energy Form Bunker JV
Monday October 21, 2019
French oil major Total has set up a joint-venture with China's Zhejiang Energy to capture a share of the Zhoushan bunker market.
The region is a busy cargo shipping hub and includes the ports of Zhoushan, Ningbo and Shanghai.
Bunker volumes at Zhoushan stood at 3.6 million metric tonnes last year while the port has a 50-strong bunker barge fleet.
Total China Investment will hold a 49% share in the new joint venture company, and Zhejiang Zheneng Petroleum New Energy will hold the remaining stake, according to a Reuters report.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Zhoushan |
- login to view prices or subscribe from just $59 - |
|||
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
Popular Now More
-
Nov 27The company is looking for candidates with shipping industry experience and strong negotiation skills. -
Nov 25The firm has halted production as of November 25 due to a lack of prompt availability of commercially viable feedstock. -
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer.