World News
Aegean In "Advanced Stages of Development" with a Number of New Physical Bunker Supply Projects
Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean) says it is in "advanced stages of development" with a number of new physical bunker supply projects.
"We expect to debut these new markets over the course of 2018 and believe they will continue to reinforce Aegean’s commitment of being an innovative market leader as the industry looks forward to change ahead in 2020,” Aegean President Jonathan Mcilroy said in a statement released today, referring to the 0.50% global sulfur cap on marine fuel that comes into force at the end of the decade.
Geographical locations for the potential new operations were not discussed.
The comments came alongside news that Aegean will exit the Singapore bunker market as a physical supplier as of January 2018.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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