World News
Bunker Holding's Record Credit Expansion Locks in Sustainability Targets
Marine fuels conglomerate Bunker Holding is tying its ability to access financing to sustainability targets the firm set out last year.
Last week the company announced it had expanded its overall funding framework by 33% to a record $3.2 billion with a new $1.11 billion credit facility.
Access to that credit facility will be tied to sustainability targets, a spokesman for the company told Ship & Bunker by email.
"The ESG-related KPIs will in general be aligned with our ESG targets mentioned in our ESG report from last year, however – the specific elements in the loan documentation are not public," the representative said.
"Bunker Holding is dedicated to push the green transition, something the new credit facility is a pivotal part of, as it allows us to support our customers with the more expensive low-carbon fuels.
"At the same time, we're focused on raising the social aspects of our work force as well as leading the way with best-in-class compliance."
Bunker Holding set out its sustainability strategy in its first ESG report in September, with data covering its performance in the 2021/22 financial year. One of the targets mentioned was to be involved in at least ten green fuel supply projects by the end of this year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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