World News
Bomin to Close More "Hubs" with Exit from Singapore and Antwerp Markets
Bomin today said it will exit the Singapore and Antwerp markets, and going forward will operate from just two offices, Houston and Hamburg.
The move was said to be critical to ensuring commercial viability and sustainability in the post-2020 world.
"The Bomin group is in a transformation and restructuring process and intense competition and low margins characterize the situation in all major ports," says Jan Christensen, Managing Director of Bomin Group.
"We see many bunker companies making major adjustments to their operating models in preparation for IMO 2020."
The move is the second change in direction for the supplier this year, who at the end of 2016 said it was consolidating its operations into four regional hubs - Hamburg, Houston, Dubai, and Singapore - in order "to better serve its clients into 2020."
It announced the closure of the Dubai office in June.
The closure of its operations in Singapore and Antwerp are scheduled to take place this year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 550.00 | 2.00 | 679.00 | 3.00 |
| Rotterdam | 513.50 | 4.00 | 651.00 | 2.50 |
| Houston | 550.50 | 3.00 | 678.50 | 3.00 |
| Fujairah | 548.50 | 2.00 | 748.50 | 2.00 |
| Global 20 Ports Average | 575.50 | 1.50 | 760.00 | 0.50 |
| Global 4 Ports Average | 540.50 | 0.00 | 689.50 | 1.50 |
| Global Average Bunker Price | 626.50 | 0.50 | 805.00 | 0.00 |
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