World News
Trafigura Closes New $1.5b Credit Facility
Monday October 7, 2019
Trafigura Pte Ltd today announced the closure of a new USD1.5 billion-equivalent revolving credit facility.
The facilities are a sizeable uptick from its initial plan for a USD $1.0 billion-equivalent facility.
The facilities include a 365-day USD revolving credit facility (USD760 million), a 1-year CNH term loan facility (USD445 million equivalent) and a 3-year USD term loan facility (USD300 million).
While today's announcement made no reference to its marine fuel supply ambitions, the commodities trading giant has recently become more active as part of the IMO2020 bunker supply picture.
Among the most recent developments, in August Trafigura formed a bunkering joint-venture with shipping firms Golden Ocean and Frontline.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 0.50 | 772.50 | 1.00 |
| Rotterdam | 603.00 | 1.00 | 751.50 | 4.50 |
| Houston | 620.00 | 10.50 | 787.50 | 11.00 |
| Fujairah | 652.00 | 1.50 | 885.00 | 12.00 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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