World News
Bunker Trader Uni-Fuels Sets Price Offer For US IPO
Marine fuel trading firm Uni-Fuels Holdings Limited has set a price offer for the initial public offering of its shares in the US.
The firm is pricing its shares at $4 per share in its Nasdaq IPO, it said in a press release on Tuesday.
The offering is expected to close on Wednesday.
"Uni-Fuels intends to use the proceeds from the Offering for scaling up its reselling activities to gain market share from existing and new markets; for strengthening its workforce and expanding its market presence in new geographical locations; and cash reserve and general corporate purposes," the company said.
The firm had revenues of $74.2 million and net profit of $101,972 in the first half of 2024, compared with $14.3 million and $743,411 respectively in the same period a year earlier, it said in an exchange filing last month.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 599.00 | 0.00 | 741.00 | 1.50 |
| Rotterdam | 550.00 | 0.00 | 707.50 | 0.50 |
| Houston | 599.00 | 4.00 | 759.00 | 2.50 |
| Fujairah | 589.00 | 1.00 | 786.00 | 0.50 |
| Global 20 Ports Average | 610.50 | 2.00 | 801.00 | 2.50 |
| Global 4 Ports Average | 584.50 | 1.50 | 748.50 | 0.50 |
| Global Average Bunker Price | 650.50 | 1.00 | 839.00 | 3.50 |
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