World News
Mexico Seeks Maritime Investment From Singapore
Mexico is seeking investment from Singapore to improve its shipping and maritime industries, Singapore business paper the Business Times reports.
A delegation from Mexico to Singapore met with six companies and with the Maritime Port Authority (MPA) Tuesday.
Guillermo Ruiz de Teresa, head of Mexico's maritime and port authority, said the nation is seeking a deal with one of the Singapore companies to develop container terminals in the country.
"We intend to increase investments in all ports we have and also in our shipyards," he said.
"In Singapore, you have good operators of ports and also shipyard owners and we want to invite them to invest in Mexico."
Guillermo said the Port of Singapore Authority (PSA) visited Mexico in April to explore possible opportunities at one port, while companies including Keppel Corp. and Portek International might help develop Mexico's shipyards.
Last month, Mexican President Enrique Peña Nieto announced a 582 billion peso ($46 billion) publicly and privately funded transportation programme focused on ports, roads, railways and airports, Port Finance International reported.
"In terms of ports, the goal is to have four world-class ports, to strengthen the capacity of the port system so as to support the country's various economic sectors, while encouraging the development of merchant shipping and coastal navigation," he said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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