World News
Glencore Completes Acquisition of Majority of FincoEnergies
Global commodity trading house Glencore has completed its acquisition of a majority of biofuels firm FincoEnergies.
Glencore is now the majority shareholder of FincoEnergies as of July 1, the biofuels firm said in a LinkedIn post on Thursday.
FincoEnergies plans to leverage Glencore's global scale, sourcing capabilities and energy expertise to expand its offerings in biofuels and decarbonisation solutions across multiple transport segments, it said.
FincoEnergies first announced the planned acquisition in December.
The firm's founder and previous majority shareholder, Coloured Finches, will retain a smaller stake in the company, while Pontex Investment Partners will step down as a shareholder.
"Glencore already knows our business well, and this builds on years of collaboration, trust and shared ambition," Jan-Willem van der Velden, CEO of FincoEnergies, said in the post.
"With Glencore’s support and global reach behind us, we are in a strong position to continue growing our business and supporting our customers as demand for lower-carbon fuel solutions continues to evolve."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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