World News
Michael Stig Nielsen Steps Down From World Fuel Services
Friday February 24, 2023
Fuel supplier World Fuel Services has seen a key manager of its marine segment in Europe step down.
Michael Stig Nielsen has resigned from the company as of this week and is now on garden leave, he told Ship & Bunker on Thursday.
Nielsen was commercial director in Northwest Europe for World Fuel, as well as managing director of Norwegian physical supply unit Norse Bunker. He had worked in various roles for World Fuel since early 2002.
World Fuel Services reported 19.2 million mt of bunker sales for 2022 and $256 million of gross profit from its marine segment in an earnings release on Thursday.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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