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Fratelli Cosulich CEO Calls for 'More Professionalism' in Bunker Credit Lines
The bunker industry needs more professionalism in its allocation of credit lines to customers if it wants to improve its relationship with banks, according to the CEO of bunker firm Fratelli Cosulich.
Tim Cosulich, CEO of Fratelli Cosulich, was speaking at IBIA's annual convention this week.
"The reality is there are still players who do not handle credit risk in a very professional way," he said in a panel session at the event.
"Some are happy to take some exposure without really knowing much about their customers, or without asking for financials and so on.
"That is something that has implications on the entire industry.
"If you look at the last six or seven years, almost every year we had a big bankruptcy.
"That obviously doesn't reflect very well on the entire industry when you go and talk to banks."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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