World News
Peninsula Renews $400 Million Singapore Credit Facility
Global marine fuel supplier and trading firm Peninsula has renewed its $400 million Singapore-based syndicated credit facility.
The deal, following the renewal of the firm's European banking facility earlier this year, takes Peninsula's total funding capacity to more than $1.5 billion, the company said in an emailed statement on Friday.
"Future success in the marine fuels industry will increasingly require both significant capital and liquidity," John Bassadone, CEO of Peninsula, said in the statement.
"I'm proud that we deliver both through a robust balance sheet, risk aware business model and enduring relationships with world-class banks.
"This facility renewal is yet another testament to Peninsula's strength, stability, and leadership in marine energy."
HSBC was the arranger and facility agent, and the syndicate includes UOB, Citibank, Lloyds, Mashreq Bank, Arab Banking Corporation (B.S.C.), OCBC, and QNB Singapore.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 455.00 | 8.50 | 691.50 | 22.50 |
| Rotterdam | 435.50 | 16.00 | 662.50 | 28.50 |
| Houston | 468.00 | 33.50 | 670.00 | 30.00 |
| Fujairah | 449.00 | 9.00 | 745.50 | 16.00 |
| Global 20 Ports Average | 493.00 | 8.00 | 755.00 | 16.50 |
| Global 4 Ports Average | 452.00 | 17.00 | 692.50 | 24.50 |
| Global Average Bunker Price | 533.50 | 5.50 | 789.00 | 13.00 |
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