World News
Monjasa Ups Tanker Ownership Ahead of IMO2020
Monjasa has announced it has taken ownership of five tankers as part of its preparations for IMO2020.
Two of the tankers have already been delivered in Dubai, with remaining vessels set to be delivered in the coming months.
The move means Monjasa now owns 10 of its 20-strong global tankers fleet.
"With global marine fuel logistics expected to be challenged on parameters such as flexibility and storage capacity due to the introduction of the new Very Low Sulphur Fuel Oil (VLSFO) products, Monjasa is actively securing the right tonnage for its long-term bunker operations," the suppler said.
The tankers in question, four of which were previously on bareboat charter by Monjasa, are:
- Aarhus - 3,798 dwt - year built 2009
- Delhi - 3,802 dwt - year built 2009
- Amsterdam - 8,839 dwt - year built 2009
- Accra - 8,839 dwt - year built 2010
- Annie - 12,222 dwt - year built 2004
The vessels will be deployed in the Arabian Gulf, West Africa, and Panama Canal markets.
"Last year, we increased our total supply volume by 17% to 4.1 million tonnes of marine fuel and we continue to see a growing demand for our services. This is also part of the reason we are now purchasing five quality tankers," commented Group CEO, Anders Østergaard.
"We are on the brink of bringing new low-sulphur fuel products to the market and the entire industry needs to adapt to a new multiple products demand. These five tankers can segregate between two and six different types of oil products onboard and this contributes to making them an attractive investment for us. Coupled with an average age of 10 years the tankers are fully furnished to handle the leap in quality required to perform bunker operations come 2020."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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