Global bunker conglomerate Bunker Holding is launching a new Dubai-based marine fuel cargo trading unit called PSTV Energy.
The company comprises of the former Dubai team of bunkering firm Endofa DMCC which is closing down due to restructuring, according to ShippingWatch. It is also located in the same office as the former firm.
PSTV Energy is headed by Mads Uldall Borggaard, one of Endofa's co-founders, according to Bunker Holding CEO Keld R. Demant.
“The way I see it, Endofa had jointly decided that there was no further basis for keeping the business going in its current shape,” says Demant.
“So we decided to establish a new setup in Dubai headed by Mads Uldall Borggaard, where he's doing the same work he skilfully did at Endofa. Just at a different firm.”
Endofa is not part of PSTV Energy.
Article credit: ShippingWatch
Publication date: 16 January, 2018
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