World News
KPI OceanConnect Redundancies "Normal Housekeeping"
Bunker supplier KPI OceanConnect has reported a few redundancies at the start of 2021 following on from the completion of its merger last year.
The company has made a few staff redundant from its Singapore, London and Athens offices, CEO Søren Høll told Ship & Bunker on Friday, characterising the move as 'normal housekeeping'.
Rumours put to Ship & Bunker earlier in the week that the move was connected to the LQM London office closure as part of a wider clear-out of staff by parent company Bunker Holding are untrue.
"It's quite a normal procedure with a merger to take some time to look at the group, see what positions we need to strengthen," Høll said.
"As management you have to have a prudent approach to make sure you are lean and efficient for future growth.
"We have actually hired a number of people as well."
KPI Bridge Oil first announced its merger with OceanConnect Marine in February of last year, and the merger that formed KPI OceanConnect was completed over the summer.
Høll told Ship & Bunker earlier this year that the company would be keen to take on further acquisitions this year if the expected consolidation in the bunker industry provides opportunities.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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