World News
New Bunkering Operations to Commence in Iraq
Al-Iraqia Shipping Services & Oil Trading (AISSOT) today announced it will start bunkering operations at several Iraqi Ports, with a focus on Basra, Khor Al-Zubair and Umm Qasr.
AISSOT, a joint-venture company of Iraqi Oil Tankers Company (IOTC) and Arab Maritime Petroleum Transport Company (AMPTC), says it will handle various activities that, in addition to Bunkering, includes the Trading of petroleum products, Ship chartering, Oil terminals, and various other Marine services.
"Iraq ports are growing exponentially as shipping hub over the years and AISSOT is confident to cater to all marine related needs of the shipping lines calling Iraq, anchorage area and nearby ports by offering them end-to-end bunkering solutions meeting international standards on quality and safety," the company said.
Formation of AISSOT is based on the Iraqi Oil Ministry's vision to further strengthen activities of AMPTC and IOTC in the field of shipping, marine services, and oil trading; it is also one of Iraqi oil ministry's initiative to develop national oil companies to international levels, AISSOT added.
"AISSOT is poised to become one of the leading marine fuel physical bunker suppliers in Iraq by controlling all key stages of the marine fuel supply chain by providing exceptional value to our customers. AISSOT promises to provide services through its progressive and innovative approach to delivering energy," the company said.
"AISSOT will offer broad range of marine fuels which comply with internationally set standards like ISO, MARPOL, etc. as well as specific requirements to meet customer satisfaction. AISSOT's global team of highly-experienced marketing & operating professionals stationed at Iraq, UAE & Singapore will be available 24/7 to help with customers' queries and offer customized fuel procurement solutions that cater to a wide range of customer needs.
"With oil terminals in Iraq and floating storage in Basra anchorage AISSOT commits to provide continuous availability of marine fuels to meet customer requirements."
AISSOT adds it will offer various pricing options, including term contracts, fixed, and benchmark linked spot prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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