World News
Trafigura Seeks to Expand Bebera Port in Somaliland
Global commodities trader Trafigura has made its first low-sulfur gasoil shipment to the port of Berbera in Somaliland, as part of its plan to develop it into a regional oil products hub.
The company signed a storage agreement earlier this year with the Government of Somaliland's Ministry of Trade, Industry and Tourism, it said in a statement on its website Wednesday.
"Trafigura, with the full support of the Government, intends to upgrade the Berbera Oil Terminal in a phased approach to improve and expand the storage capacity, and eventually facilitate the import of jet fuel and LPG to meet local and regional demand whilst ensuring international health and safety standards," the company said.
"Plans also include increasing the draft to enable larger vessels to be received and allow local traders more economical import of refined products and access to re-export markets."
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 |
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