World News
Fuel Additive Firm Sulnox Reports 73% Rise in Q1 Sales Volume
Fuel additive firm Sulnox saw its product sales volume rise by 73.1% year on year in the first quarter of its financial year.
The increase was driven by repeat and expanding sales to existing marine customers as well as new clients, the company said in an emailed update on Monday.
Revenue for the three months to June 30 rose by 53.8% to £804,600, from £522,600 a year earlier.
During the quarter, Sulnox signed its largest supply agreement to date, a four-year deal with Eastern Pacific Shipping (EPS) covering 1.2 million litres of Sulnox Eco.
The product helps to improve bunker fuel efficiency, claiming it can deliver up to 5% of fuel savings.
Sulnox also raised £2 million during the quarter and ended June with an unaudited cash balance of £1.53 million.
The company said sales had continued strongly into the second quarter.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
Popular Now More
-
Oct 23Rotterdam's bunker sales recovered slightly in Q3 from the previous quarter, but volumes remained well below year-earlier levels. -
Oct 23The acquisition includes eight bunkering vessels and a long-term lease for 28,000 m3 of tank capacity in Turkey. -
Oct 21Trading Director Maaz Ahmed tells Ship & Bunker that the firm plans to deploy more bunker barges in the future.