World News
Wartsila to Sell Gas Shipping Solutions Unit, Reorganizes Marine Business
Wartsila plans to sell off its Gas Solutions business unit as part of the latest shake-up of its marine business aimed at simplifying its organisation and reporting structure.
The Gas Solutions business includes fuel supply systems for a number of upcoming and anticipated future bunker fuels, including the Wärtsilä MethanolPac and LNGPac complete fuel supply systems for methanol-fuelled and LNG-fuelled ships respectively.
"Gas Solutions is a leading provider of gas processing systems. However, the business unit has limited synergies with the rest of Wärtsilä's marine product portfolio," the Finnish group said in a Stock exchange release Monday.
In other moves, as of January 1, 2024 is Exhaust Treatment business - responsible for Wartsila's marine scrubbers - and Shaft Line Solutions business will be moved from Wärtsilä Marine Systems to Wärtsilä Marine Power.
Marine Systems will be discontinued as a reporting segment and Wärtsilä Marine Power will change its name to Wärtsilä Marine.
"Wärtsilä will have two reporting segments as of January 1, 2024: Marine and Energy. Portfolio Business will continue to be reported as other business activities," it said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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