World News
Global Risk Management to Work With Bunker Holding on Alternative Fuel Strategy
Hedging firm Global Risk Management is set to work more closely with its parent company, marine fuels conglomerate Bunker Holding, on developing alternative fuel strategies for its customers.
The company announced the plan as part of its new strategy for the next five years in an emailed statement on Wednesday.
"The company will intensify collaboration with parent company Bunker Holding in providing clients with expert insights into new and alternative energy sources," Global Risk Management said in the statement.
Global Risk Management appointed a new global managing director, Peder D. Møller, in May 2020.
"We see a significant increase in demand for more sustainable energy solutions," Møller said in Wednesday's statement.
"That is why we have escalated efforts to promote cleaner energy use through providing our clients with access to greener energy derivatives markets."
The company also announced a rebranding exercise along with its new strategy on Wednesday, revealing a new logo and website.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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