World News
SIBCON22: Oilmar Bunker Volumes Close to Doubling in 2022
Tanker and marine fuels firm Oilmar Shipping and Chartering has seen its bunker sales volumes almost double this year.
The firm has sold an average of about 43,000 mt/month of marine fuels this year, and closer to 45,000 mt/month in the second and third quarters, Rakesh Sharma, head of business at Oilmar, told Ship & Bunker on the sidelines of the Sibcon industry event in Singapore last week.
The firm launched its marine fuels trading unit, Oilmar DMCC, two years ago.
The company now has 14 traders, and expects to have 18 by the end of the year.
Bunker trading revenues have grown from about $130 million last year to around $350-380 million this year, the representative said.
The firm is targeting revenue of $500 million next year, assuming crude prices hold above $85/bl.
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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