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European Consortium to Acquire V.Group
A consortium led by European fund manager STAR Capital is set to acquire maritime services company V.Group.
The STAR IV Fund will acquire the London-based firm, with completion set for early autumn 2024, STAR said in an emailed statement on Monday. The deal is subject to regulatory approvals.
V.Group services about 3,500 vessels from 50 offices worldwide.
"V.Group is an excellent fit for STAR’s investment strategy with its strong brand and leading position in a highly fragmented market, making it a natural leader in providing outsourced technical management and marine services to fleet owners and operators, including those turning to outsourced services for the first time," Aditya Bindal, a partner at STAR, said in the statement.
"We have been impressed by the team, their track record and vision for the company, and look forward to supporting them as they continue to deliver value for the company’s customers consistently and over time."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 2.50 | 673.00 | 1.00 |
| Rotterdam | 514.50 | 1.00 | 651.00 | 1.50 |
| Houston | 545.00 | 4.50 | 671.00 | 1.00 |
| Fujairah | 543.00 | 0.50 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.50 | 748.00 | 8.00 |
| Global 4 Ports Average | 539.00 | 1.50 | 685.50 | 0.00 |
| Global Average Bunker Price | 626.50 | 2.00 | 800.50 | 0.50 |
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