World News
World Fuel Services Makes $11.7m Claim Against Macoil
World Fuel Services is looking to recover $11.7 million from Macoil International over the Greek bunker company's alleged late payments on three separate deals for marine bunker cargoes.
In court documents filed in the Southern District of Florida, WFS says the deals were entered into between August and September of 2018.
Macoil has not raised any quality or quality dispute related to the cargoes but gas failed to make payments for any of its contractual obligations, says WFS.
As at October 15, WFS says the amounts owing including interest and other fees are $5,547,653.19 on deal involving 10,000 mt of fuel, $3,387,048.52 on a 6,000 mt deal, and $2,818,696.38 on a 5,000 mt deal.
The action comes one year after Macoil brushed off suggestions it was experiencing commercial difficulties.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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