World News
Minerva Bunkering Launches Mauritania Physical Supply Operation
Global marine fuel supplier and trading firm Minerva Bunkering has launched a new physical supply operation in Mauritania.
Following the award of a National Hydrocarbons Commission licence, the firm has set up physical supply initially focused on Nouadhibou and Nouakchott, it said in an emailed statement on Wednesday.
The operation will supply both commercial vessels and offshore oil and gas installations in the region.
Supply will come from the company's hub in Las Palmas, and Minerva's bunker delivery vessels the MT Symi, MT Tethys and MT Karpathos will be used for the operation.
"Minerva’s new operation in Mauritania is consistent with our strategy of increasing the density of the industry’s largest physical supply network," Tyler Baron, CEO of Minerva Bunkering, said in the statement.
"Our mission is to lower our clients’ total cost of bunkers by leveraging supply chain efficiency and providing unmatched performance on fuel quality and quantity – we are excited to now bring this value proposition to vessels operating in Mauritanian waters.”
West African bunker demand has been boosted in recent years by diversions away from the Red Sea and Suez Canal, a situation that looks likely to be extended considerably by recent conflict in the Middle East. The Middle Eastern situation has also raised demand for West African crude and refined products, increasing bunker demand from the tanker segment operating there.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 867.50 | 9.00 | 1297.00 | 26.00 |
| Rotterdam | 686.00 | 14.00 | 1391.00 | 17.50 |
| Houston | 730.00 | 9.00 | 1383.00 | 1.00 |
| Fujairah | 951.50 | 8.50 | 1663.50 | 30.50 |
| Global 20 Ports Average | 875.50 | 2.50 | 1542.00 | 1.00 |
| Global 4 Ports Average | 809.00 | 10.00 | 1433.50 | 19.00 |
| Global Average Bunker Price | 926.00 | 0.50 | 1593.50 | 10.00 |
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