World News
Maersk Oil Trading to Be Merged Into New Business Unit: Report
Maersk Oil Trading, the bunker supply arm of container and logistics firm AP Moller-Maersk, is reportedly set to be merged into a new business unit.
The firm will become part of a new climate unit at Maersk, news provider ShippingWatch reported on Friday.
A Maersk representative was not immediately available for comment when contacted by Ship & Bunker on Friday.
'Managerial changes' are likely as part of the move, but other employees will keep their current roles, according to the report.
Morten Bo Christiansen, head of energy transition at Maersk, will manage the new unit.
Emma Johnson Mazhari has been appointed head of energy markets at Maersk as of this month, according to an update to her LinkedIn profile this week. Mazhari was head of green sourcing and portfolio management at Maersk from December to this month, and was previously senior director and head of finance decarbonisation.
Maersk Oil Trading is a significant presence in global bunker markets, covering the bunker needs of its parent company, which has the world's second-largest container fleet by capacity.
Maersk consumed a total of 10.58 million mt of bunker fuel last year. That amounts to about 4.7% of global bunker demand, based on IMO data for 2021.
The main challenge for Maersk's bunker buyers now is to secure enough green methanol for the company's growing orderbook of vessels capable of running on the alternative fuel. The firm has ordered 19 methanol-fuelled boxships so far, the first of which is due for delivery in September.
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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