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Molgas Takes 45% Stake in LNG Bunker Supplier Titan
Spanish gas company Molgas has taken a 45% stake in LNG bunker supplier Titan.
Titan Energy Holding, the firm's parent company, closed a funding round for a 45% equity stake, the company said in an emailed statement on Thursday.
Small-scale LNG firm Molgas took the stake, with support from infrastructure fund investor InfraVia Capital Partners.
"We have been considering a growth partner for some time and believe we have found the perfect partner in InfraVia and Molgas," Niels den Nijs, CEO of Titan, said in the statement.
"Titan will retain independence, while benefiting from the complementary service offering of Molgas.
"Legislation and public scrutiny are stimulating the demand for low and zero-emissions fuels with growing momentum.
"The new capital will allow us to accelerate our growth plans and focus all our efforts on the maritime sector exactly at the time of fast-growing market need."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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