World News
Bunker Holding Group Streamlines Legal Structure to Simplify Operations
Bunker Holding Group, the world's largest marine fuels firm, has announced a restructuring of its legal structure.
The move is part of a strategic effort to streamline operations and strengthen its engagement with customers.
"The changes are done to optimise our legal entity structure, simplify operations, and make it easier for our customers and suppliers to do business with us," Michael Krabbe, CFO at Bunker Holding Group, told Ship & Bunker.
Bunker Holding is made up of several different marine fuel brands, including well-known ones such as physical supplier Bunker One and hybrid firm Dan-Bunkering.
The firm says the restructuring will not mean any changes to the current back-office operation for individual brands.
"The restructuring of legal entities does not give reason to changes in back-office operations compared to today," Krabbe said.
The restructuring will not impact the current job structure in the firm.
"It is not done as a part of any staff reduction program.
"Accordingly, there are currently no plans of redundancies related to the restructuring," Krabbe noted.
Bunker Holding Group currently holds ISCC certifications for biofuel supply both under its own name and through individual brands
These could be reduced due to restructuring.
"Our licenses will as today fall both under individual brands and Bunker Holding Group depending on what the optimal structure is for the individual country/region.
"We do however expect that we will be able to reduce the number of licenses as a result of the restructuring in certain places," Krabbe explained.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 602.50 | 2.50 |
| Rotterdam | 468.50 | 3.00 | 609.00 | 7.00 |
| Houston | 470.50 | 4.50 | 608.00 | 8.00 |
| Fujairah | 494.50 | 8.50 | 706.00 | 6.00 |
| Global 20 Ports Average | 528.00 | 4.00 | 703.00 | 3.00 |
| Global 4 Ports Average | 484.00 | 5.00 | 631.50 | 2.00 |
| Global Average Bunker Price | 567.50 | 2.50 | 750.00 | 5.50 |
Popular Now More
-
May 30Søren Høll has stepped down as head of global operations at Bunker Holding as of this month. -
May 27Chris Young has recently joined the company as management consultant, a Sekavin representative tells Ship & Bunker. -
May 28ScanOcean tells Ship & Bunker it expects biofuel demand to grow in the latter part of this year as many shipowners holding off on compliance purchases under FuelEU Maritime begin to act.