World News
IBIA CONVENTION: Leading Bunker Supplier Sees Further Consolidation Coming
Further consolidation in the bunker industry after this year's traumas could be inevitable, according to a leading bunker supplier CEO.
"It goes without saying that in this industry -- and we talked about this also in the transition to 2020 -- that consolidation will happen," the CEO said in a panel session at the IBIA Annual Convention 2020 on Thursday.
"I do expect that we'll have it, that we'll continue being focused on that definitely for the next six to 12 months."
The consolidation may come in the form of 'new partnership models' on a limited basis that fall short of a formal merger or acquisition, he said.
"I think you're going to see different combinations going forward; we will see smaller shops, let's say wanting to exit the market or maybe wanting to partner up with a more financially stable player," he said.
"And then you will see some new partnerships where it's more of a 50:50 partnership."
* The IBIA Convention was Chatham house rules, where neither the identity nor the affiliation of the speaker may be revealed without their permission.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
Popular Now More
-
Nov 26The company has hired Mike Parrent, formerly marketing manager for Bomin before its acquisition by Minerva Bunkering earlier this year, as its new physical desk manager in Houston. -
Nov 27The company is looking for candidates with shipping industry experience and strong negotiation skills. -
Nov 26The new hire previously worked as a bunker trader for IBT Bunkering & Trading in Hamburg.