World News
Vitol Takes Commanding Stake in Danish Tech Firm
Tuesday December 17, 2024
Commodity trading firm Vitol is to take a controlling share of Waste Plastic Upcycling (WPU), a Danish recycling company that makes oil products from waste plastic.
Vital already has a minority stake in the company. Once the transaction is complete, the commodity trader will own 90% of the WPU's shares.
WTU takes the waste material to produce naphtha or jet fuel, according to a statement from Vitol.
"WPU's technology turns waste into usable product, creating the possibility of a circular plastics system. We look forward to working with WPU as they expand and develop the business," said Vitol's head of naphtha, Tom Baker.
The deal is expected to be finalised by the end of next week.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 606.00 | 9.00 | 748.00 | 15.00 |
| Rotterdam | 554.00 | 7.00 | 712.00 | 5.50 |
| Houston | 603.00 | 5.00 | 774.50 | 9.00 |
| Fujairah | 595.00 | 8.50 | 789.50 | 7.50 |
| Global 20 Ports Average | 616.50 | 8.00 | 812.00 | 10.50 |
| Global 4 Ports Average | 589.50 | 7.50 | 756.00 | 9.00 |
| Global Average Bunker Price | 654.00 | 4.50 | 847.50 | 8.00 |
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