World News
New CFO for Chinese Bunker Supplier
Chinese bunker supplier Andatee China Marine Fuel Services Corporation (Andatee) [NASDAQ:AMCF] says it has appointed a new Chief Financial Officer.
Wang Hao filled the previously vacant CFO role effective December 17, 2012, according to its form 8-K filing with the Securities and Exchange Commission.
Prior to joining Andatee, Wang was Chief Executive Officer of financial consulting firm Business International Capital Limited, before which he was Chief Financial Officer and Vice President of residential and Chinese commercial construction company BoYuan Construction Group, Inc..
Andatee's previous CFO, Haipeng (Abraham) Wang, tendered his resignation effective November 23, 2012 saying he was unable to relocate from Shanghai to Dalian where the company was moving its executive offices to.
Last week the supplier warned that it could loose its Nasdaq listing after failing to meet two listing requirements.
Earlier in the month, the firm said the volume of fuel it sold in Q3 more than halved quarter-on-quarter resulting in a loss of $3 million for the period.
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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