World News
Signal Group Officially Launches Bunker Procurement Firm Shipergy
Shipping services company Signal Group has officially launched its new bunker procurement firm, Shipergy.
Daniel Rose, former CEO of brokerage LQM, will serve as the company's CEO. The firm has started operations by covering the bunker requirements of the Signal Maritime pools, and will seek to roll out the service to third parties in due course, it said in an emailed statement on Thursday.
The firm is seeking to position itself as the most advanced bunker procurement company, using Signal Group's technology expertise to provide added value in the bunker sourcing process. The company had a soft launch in IP Week in February before formally commencing operations this week.
"Sourcing on-spec bunkers at the right place, at the best price, is critical to the success of Signal's pools," Rose said in the statement.
"Looking to the future, we see challenges and opportunities from the decarbonisation and digitisation of the shipping industry.
"The bunkering sector is still adapting to these challenges, but by building a bunker procurement business within the domain of one of the shipping industry's most prestigious and forward-thinking groups, we intend to be a catalyst for change over the coming years."
The launch of the new firm will not reduce the operational personnel at Signal Maritime; the firm's current bunker procurement team have moved over to Shipergy, which will also seek to hire additional staff in the near future. The new entity has been operational since June 27, and all credit lines have been switched over to Shipergy.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 629.00 | 2.00 | 738.00 | 1.00 |
| Rotterdam | 572.50 | 6.50 | 740.00 | 13.50 |
| Houston | 593.50 | 6.00 | 753.50 | 11.00 |
| Fujairah | 626.50 | 4.50 | 885.00 | 3.50 |
| Global 20 Ports Average | 646.00 | 0.50 | 825.50 | 1.50 |
| Global 4 Ports Average | 604.00 | 2.50 | 784.00 | 4.50 |
| Global Average Bunker Price | 700.00 | 3.50 | 883.00 | 3.00 |
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