Business

Bunker Holding undergoes major management reshuffle to prepare for future growth

KPI OceanConnect CEO Anders Grønborg will assume Chief Commercial Officer role and lead Bunker Holding Sales; Peder Møller will take on newly added Chief Operating Officer role and head up Bunker Holding Operations.

Published

2 months ago

November 22, 2024

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Bunker Holding undergoes major management reshuffle to prepare for future growth

World’s largest marine fuels supplier Bunker Holding on Thursday (21 November) announced a major restructuring of its Executive Management to future-proof and gear the organisation for the increase in complex market dynamics.

Bunker Holding’s commercial department will be divided into two divisions: Bunker Holding Sales and Bunker Holding Operations. Anders Grønborg will assume the role of Chief Commercial Officer (CCO) and lead Bunker Holding Sales, which will focus on customer relations. Peder Møller will take on the newly added role of Chief Operating Officer and head up Bunker Holding Operations, which will be responsible for operations involving global sourcing, physical supply, risk management, and new fuels.

The firm said the purpose of the new structure is to better equip the Group to respond to an increasingly complex market which involves the separation of Bunker Holding’s sales and operations divisions. Not only will this separation lead to an increase in specialisation within sales, sourcing, risk management, and physical supply, but it will ensure that Bunker Holding moves closer to customers and suppliers while adapting to changing market conditions.

“We want to ensure that we prepare the company for future growth and build a world-class organisation – one that can manage the dynamics of our market. We have decided to divide the commercial responsibilities to adopt a more focused approach to both customers and operations. Our goal is to ensure that we can deliver the best service to our customers while maintaining oversight of our operations,” says Keld R. Demant, CEO of Bunker Holding.

Increasing customer specialisation and optimising operations

Bunker Holding is parting ways with CCO Christoffer Berg Lassen and utilises the opportunity to expand the Executive Management team from three to four members. Christoffer Berg Lassen is leaving Bunker Holding after having headed up the commercial department since 2018.

“I would like to thank Christoffer Berg Lassen for his immense dedication during his tenure. Christoffer joined the company more than 20 years ago and as such, he has made an impressive mark on especially the Group’s commercial operations. I highly commend his efforts and wish him the best of luck with his future endeavours,” says Keld R. Demant.

“The new structure has the full support of the Board of Directors. We are confident that the increased focus on growing and building closer ties to Bunker Holding’s customer base and streamlining our operations, will better position us to create value across the entire value chain,” says Klaus Nyborg, Chairman of the Board of Directors of Bunker Holding.

Taking effect 1 December, the new Executive Management team in Bunker Holding will thus consist of CEO Keld R. Demant, CFO Michael Krabbe, CCO Anders Grønborg, and COO Peder Møller.

Additional changes

As a consequence of the restructuring, Anders Grønborg will leave his position as CEO of KPI OceanConnect, and Dorthe Bendtsen, current COO of KPI OceanConnect, will take over as interim CEO. She has been an integral part of KPI OceanConnect’s Executive Management team for the past 16 years.

Martin Vorgod, CCO of Global Risk Management (GRM), will assume the role of CEO of GRM, following Peder Møller’s transition to Bunker Holding. Martin Vorgod joined GRM in 2022. In his role as CCO, he has focused particularly on the development of new products within energy, emission certificates, and on GRM’s customer-facing activities.

Together with the intensified focus on Bunker Holding’s commercial strategy and goal to strengthen its role as a full-service provider, the new organisational structure will enable the Group to better enhance and expand its business and streamline its operations.

Photo credit: Bunker Holding
Published: 22 November, 2024

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Marine fuels trading, broking firm Uni-Fuels announces US IPO pricing

Firm announced the pricing of its underwritten IPO of 2,100,000 Class A Ordinary Shares at a public offering price of USD 4.00 per share, for total gross proceeds of USD 8.4 million.

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2 minutes ago

January 15, 2025

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Uni-Fuels Holdings (Uni-Fuels), the ultimate parent of Singapore-based marine fuels trading and brokerage firm Uni-Fuels Pte Ltd, on Tuesday (14 January) announced the pricing of its underwritten initial public offering of 2,100,000 Class A Ordinary Shares at a public offering price of USD 4.00 per share, for total gross proceeds of USD 8.4 million to the company, before underwriting discounts and commissions.

All of the Class A Ordinary Shares are being offered by Uni-Fuels. The Class A Ordinary Shares began trading on the Nasdaq Capital Market under the ticker symbol “UFG” on 14 January. The Offering is expected to close on 15 January subject to satisfaction of customary closing conditions.

Uni-Fuels has granted the Underwriters an option to purchase up to 315,000 additional Class A Ordinary Shares within 45 days of the effective date of the company’s registration statement in relation to the IPO.

The total proceeds from the offering are expected to be approximately USD 9.66 million, if the Underwriters exercise their option to purchase the additional Class A Ordinary Shares in full.

Uni-Fuels intends to use the proceeds from the IPO 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.

A registration statement on Form F-1 relating to the shares being sold in IPO was initially filed with the U.S. Securities and Exchange Commission (SEC) on 28 October 2024; and was declared effective by the SEC on 10 January 2025.

Manifold Times previously reported Uni-Fuels announcing its plans for an IPO on Nasdaq Capital Market.

Photo credit: Uni-Fuels Holdings
Published: 15 January, 2025

Business

Lloyd’s List Intelligence acquires Infospectrum to drive maritime risk intelligence solutions

Combined business will enable LLI to build solutions that deliver actionable insights and help maritime customers successfully navigate key use cases associated with compliance, risk management and operations.

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20 hours ago

January 14, 2025

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Lloyd’s List Intelligence acquires Infospectrum to drive maritime risk intelligence solutions

Maritime data, insights and analytics provider Lloyd’s List Intelligence (LLI) on Tuesday (14 January) announced the acquisition of Infospectrum, an independent provider of counterparty risk appraisal reports & data, due diligence research and KYC intelligence.

The acquisition expands LLI’s ability to deliver analysis and risk management intelligence solutions.

The integration of Infospectrum’s comprehensive counterparty risk appraisal, due diligence and KYC intelligence capabilities and data, will enable the combined business to provide customers with more accurate, reliable, and timely risk based decision-making solutions.

With the maritime sector facing increasing complexity from global sanctions, compliance, safety, geo-political and legal considerations, the combination will enable LLI to build solutions that deliver actionable insights and help customers successfully navigate key use cases associated with compliance, risk management and operations.

“The acquisition of Infospectrum is an important milestone for Lloyd’s List Intelligence,” said Michael Dell, CEO, Lloyd’s List Intelligence.

“This acquisition is a significant step forward in our mission to provide the most comprehensive and insightful risk intelligence solutions that support the global maritime industry. By combining our respective strengths, we will deliver stronger capabilities to our customers and enhance our ability to act as a provider of mission critical data, insights and analytics for the maritime sector as a whole.”

“We are excited to join forces with Lloyd’s List Intelligence,” said Panos Panousis, Managing Director, Infospectrum.

“This combination will unlock significant opportunities for both companies and provide the maritime ecosystem with access to a broader range of data, analytics, and intelligence. We are confident that together we will accelerate innovation and deliver exceptional solutions to the maritime industry.”

Photo credit: Lloyd’s List Intelligence
Published: 14 January, 2025

Bunker Fuel

China: Zhoushan Port achieves 7.26 million mt annual bunker volume for 2024

Zhoushan Hi-Tech Zone Administrative Committee highlighted the progress Zhoushan Port has made in the past year including actively planning to build an alternative fuel bunkering centre.

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1 day ago

January 14, 2025

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China: Zhoushan Port achieves 7.26 million mt annual bunker volume for 2024

Zhoushan Hi-Tech Zone Administrative Committee on Friday (10 January) said Zhoushan, the fourth largest bunkering port of the world, delivered 7.26 million metric tonnes (mt) of marine fuel in 2024.

This marked about a 3% increase from 7.04 million mt in 2023.

The committee also highlighted the progress Zhoushan Port has made in the past year including actively planning to build an alternative fuel bunkering centre.

It has successfully obtained approval for the national biodiesel promotion and application pilot project. The construction of a project to produce an annual 1 million mt of marine biodiesel has begun.

The first methanol vehicle-to-ship pilot was carried out, and the first methanol bunkering barge in Zhoushan was officially built and is expected to be put into use by the end of 2025.

The port has also improved the fuel supply efficiency of various bunkering anchorages in Zhoushan including Tiaozhumen Anchorage adding three bunkering anchorages on top of the original five and has successfully carried out night bunkering operations.

Xiushandong and Mazhi anchorages have added a total of three new bonded bunkering anchorages, which can implement all-weather and fully automatic anchorage reservations, and provide advance reservations and priority refueling services for large ships and large orders.

The committee also highlighted Dong Fang Zhao Yang becoming the first domestic bunkering barge to obtain the mass flow meter system certification under the ISO22192:2021 standard. The barge conducted a successful pilot for the bunkering of bonded fuel oil using a mass flow meter at Xiushandong Anchorage on 9 December.

A spokesperson of the committee said Zhoushan will focus on promoting alternative bunker fuels such as biofuel and LNG and accelerating the completion of methanol refuelling safety assessments.