World News
Bunker Holding Sees 10% Volumes Growth in 2020/21
Marine fuels conglomerate Bunker Holding saw its sales volumes rise by 10% in the year to April 30.
The number was revealed in the annual results of Selfinvest, the owner of Bunker Holding parent company USTC. Selfinvest saw its pre-tax profits slide by 37.9% in 2020/21 from the record level seen the previous year.
Bunker Holding has yet to publish its results for the last financial year, beyond a brief mention of 'a declining bottom line' in the Selfinvest release. But the company typically takes up a large share of the Selfinvest result, and it is likely that its pre-tax profits have also tumbled from the record $155.2 million seen in 2019/20.
Several Bunker Holding brands have already revealed their performance over the past year. KPI OceanConnect saw a 26.5% volumes gain from the combined figure for KPI Bridge Oil and OceanConnect Marine the previous year, Dan-Bunkering's increased by 7.2% and Glander International Bunkering's rose by 17.7%.
The increases highlight the trend of bunker demand consolidating among the biggest suppliers and traders during the COVID-19 pandemic and subsequent turbulent oil market. Overall demand has been falling; volumes at 17 leading bunkering areas sank by 11.6% in the year to March 31 compared with the same period a year earlier, according to Ship & Bunker and BLUE Insight's quarterly survey.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 0.00 | 665.50 | 1.00 |
| Rotterdam | 512.00 | 3.00 | 663.00 | 0.50 |
| Houston | 545.50 | 3.00 | 666.00 | 9.50 |
| Fujairah | 560.50 | 0.00 | 743.50 | 1.50 |
| Global 20 Ports Average | 584.00 | 1.00 | 751.50 | 2.00 |
| Global 4 Ports Average | 547.50 | 0.00 | 684.50 | 2.50 |
| Global Average Bunker Price | 633.50 | 0.50 | 805.50 | 0.00 |
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