World News
OCI Posts Loss in 3Q Results
Amsterdam-based hydrogen manufacturer and distributor OCI posted a loss in its third quarter results.
Adjusted net loss for the quarter came in at $93 million, the company said. Revenue in the third quarter was also down.
Softer prices for methanol and nitrogen shaped the results, according to the company.
Although methanol prices reached "trough levels" during the quarter, prices have since recovered. Methanol markets are expected to be supported by the growing methanol-fuelled fleet as well as a recovery in the global macro environment, according to the company.
OCI HyFuels supplied green methanol to a dual-fuel AP Moller Maersk box ship that made its first voyage from South Korea to Copenhagen in September. OCI HyFuels recently completed another green methanol sale to the marine sector for delivery early 2024, the company added.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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