World News
Oilmar Appoints Chief Operating Officer
Tanker and marine fuels firm Oilmar Shipping and Chartering has appointed a chief operating officer.
Rakesh Sharma has been appointed the firm's chief operating officer as of last month, he said in an update to his LinkedIn profile on Wednesday.
Sharma previously had the title head of business, running the firm's bunker trading desk.
"I couldn't be more excited to usher into the next phase of Oilmar's growth and the team's development," he said in a LinkedIn post.
Late last year Sharma set out some details about the firm's financial performance for Ship & Bunker. He said bunker trading revenues had grown to $350-380 million in 2022 from about $130 million in 2021, and could reach $500 million in 2023 if crude prices were to stabilise.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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