Global bunker fuel prices have approximately doubled over the course of 2016, rising from below $200 per metric tonne (pmt) to well over $300 pmt.
The repositioning of an underwater fibre-optic cable is set to see the critical Port of Fujairah Offshore Anchorage Area become even busier.
Bunker supplier Aegean Marine Petroleum Network Inc has secured a new credit facility worth $120m for its Fujairah oil terminal from UAE banks.