World News
Bunker Supplier Propeller Fuels to Expand After Winning Increased Financing
UK-based marine fuel supplier Propeller Fuels is set to expand further following an extension of its financing arrangements with global lender HSBC.
The company has recently almost doubled its funding facility from HSBC to an eight-figure total, it said in an emailed statement on Thursday.
The new funding will allow for an expansion of the company into Scandinavia and Asia.
"It allows us to focus on expansion and growth with confidence that [HSBC] are supportive of our aspirations," Robert Thompson, managing director of Propeller Fuels, said in the statement.
"We are well set now for the next chapter, and we will waste no time in continuing to execute on our business plan, which will involve expansion to other locations as well as other developments, which will be made public in due course."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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