World News
Delta Corp to Merge With US-Listed Kaival Brands
Delta Corp, the owner of bunker firm Delta Energy Fuel Supply & Trading, is set to merge with US-listed Kaival Brands.
The merger is expected to be completed in the fourth quarter of this year, the companies said in a press release on Monday. The two companies would each become wholly owned subsidiaries of a holding company incorporated in the Cayman Islands.
Kaival Brands is the exclusive global distributor of vaping products from Bidi Vapor.
Delta Corp had been due to merge with Coffee Holding, another NASDAQ-listed company, until the firm's shareholders rejected the plan in April.
Delta Energy delivered 249,000 mt of marine fuel in 2022 in a total of 1,780 transactions, Delta said last year in an investor presentation prepared as part of the previous planned merger.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 522.50 | 7.00 | 612.50 | 7.50 |
| Rotterdam | 478.00 | 2.50 | 620.00 | 4.00 |
| Houston | 468.50 | 2.00 | 620.50 | 6.50 |
| Fujairah | 508.50 | 6.50 | 711.00 | 5.00 |
| Global 20 Ports Average | 536.50 | 3.50 | 712.50 | 1.50 |
| Global 4 Ports Average | 494.50 | 4.50 | 641.00 | 6.00 |
| Global Average Bunker Price | 571.00 | 2.00 | 758.50 | 2.50 |
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