World News
No Change in Plans on Cockett Stake Sale: Grindrod
South African logistics firm Grindrod has said its plans around selling its 50% stake in marine fuels firm Cockett Group remain unchanged.
Media reports this week suggested the firm had restated the process of seeking a buyer for its Cockett stake.
"Nothing has changed," a Grindrod representative told Ship & Bunker on Friday.
"Grindrod still considers the Marine Fuels business a non-core asset, and the strategy remains to exit this investment responsibly.
"We are exploring various options with the co-shareholder but there is nothing of substance to report on to date."
Cockett is a leading marine fuels trading firm with 11 offices worldwide.
Grindrod acquired a 50% stake in Cockett in 2005, increasing its holding to 100% in 2008 before selling 50% to commodities firm Vitol in 2012.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 611.00 | 1.50 | 730.00 | 7.00 |
| Rotterdam | 557.50 | 1.00 | 718.50 | 2.00 |
| Houston | 576.00 | 1.00 | 750.50 | 2.50 |
| Fujairah | 608.50 | 2.50 | 829.00 | 2.00 |
| Global 20 Ports Average | 624.50 | 2.50 | 817.50 | 3.00 |
| Global 4 Ports Average | 588.50 | 0.50 | 757.00 | 2.50 |
| Global Average Bunker Price | 678.50 | 3.50 | 883.50 | 2.00 |
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