Hamburg Energy Trading GmbH & Co. KG (HET) on Friday said it has decided to terminate its bunker operations by 30 September, 2020.
To support HET´s decision of exiting the bunkering sector, the company said its Managing Directors Jesper Riis and Peter Højer have decided to purchase HET´s shares in NORbunker A/S.
Following the purchase which came into effect as of 31 July, 2020, Riis and Højer will be the beneficial owners of NORbunker A/S.
NORbunker was established in 2016 and it has since developed a sound portfolio and managed to prove a high level of commercial awareness reflected in its financial performance, said HET.
Photo credit: aymane jdidi
Published: 7 September, 2020
Company has had to pivot production due to the relatively low prices for diesel oil; it estimates 20,000 mt of LSR-1 bunker fuel to be shipped out this month.
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MSC Joanna scrubber installation was delayed following the COVID-19 pandemic which forced Chinese shipyards to close for an extended period of time, it explains.
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‘We also support an introduction of mandatory MFM in the port on board of the bunker barges,’ says KVNR.
PDS confirms after closing the positions concerned, it will realise a loss of about USD 310 million before taxes.
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While Covid-19 concerns are important, Captain Rahul Choudhuri was quick to note this does not mean bunker fuel related issues have indeed disappeared from the shipping sector.
‘Therefore, representing the players of the Malaysian bunker industry, we sincerely hope that this matter can be refined and reconsidered immediately so that all parties benefit together,’ says communication.
Maureen Poh, a Director of Helmsman LLC, offers plain practical tips on the differences between US and EU Sanctions and shares some thoughts on what companies could do if they are potentially exposed to sanctioned entities.
‘We [Consort Bunkers] have the opinion that the bunker business in Singapore is not related to the widely reported earlier cargo commodity trading mishaps,’ company source tells Manifold Times.
Representatives of INTERTANKO, Helmsman and Rajah & Tann gather to discuss IMO 2020, legal frameworks for the purchase and supply of alternative marine fuels, and the handling of bunker claims.
