World News
Maersk Oil Trading Hires Head of Credit From Monjasa
Maersk Oil Trading, the bunker supply arm of shipping giant AP Moller-Maersk, has hired a head of credit from Monjasa, potentially signalling plans for expansion in its fuel sales to third parties.
Sinan Utlu will join the company as head of credit from the start of next month, he said in an update to his LinkedIn profile on Saturday.
Utlu had been on Monjasa's credit team since May 2015, serving most recently as senior credit manager in Copenhagen.
Maersk Oil Trading's primary task is to supply the 10.3 million mt/year of bunker fuel consumed by its parent company's container ships, but in recent years it has also shown a growing interest in selling fuel to third parties. The firm hiring a credit manager implies it plans to expand this activity.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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