World News
G&O Maritime Group to Acquire Fuel System Supplier Eltronic FuelTech
Denmark-based maritime supplier G&O Maritime Group has agreed to acquire fuel system specialist Eltronic FuelTech.
The deal will bring Eltronic FuelTech into the Danish group's portfolio of niche maritime suppliers, expanding its capabilities in fuel systems designed for alternative marine fuels such as methanol and ammonia, the two firms said in a press release on Thursday.
The agreement is expected to be finalised in the first quarter.
Following the acquisition, G&O Maritime Group will have an annual turnover exceeding DKK 1.1 billion and more than 700 employees, most based in Denmark, alongside offices and production in Dubai, China and South Korea.
Eltronic FuelTech designs and produces fuel systems that enable vessels to operate on alternative fuels, and the new ownership is expected to support further growth and collaboration across the group's propulsion and aftermarket businesses.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 516.00 | 8.00 | 712.00 | 9.50 |
| Rotterdam | 473.00 | 0.00 | 713.50 | 15.50 |
| Houston | 490.50 | 5.50 | 695.00 | 9.50 |
| Fujairah | 511.00 | 3.00 | 777.50 | 6.50 |
| Global 20 Ports Average | 535.50 | 3.50 | 791.00 | 6.50 |
| Global 4 Ports Average | 497.50 | 4.00 | 724.50 | 10.00 |
| Global Average Bunker Price | 570.00 | 4.00 | 827.00 | 5.00 |
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