Top executives of Danishing bunkering firm Endofa has left the company, according to Danish media Shipping Watch.
It reported Chief Financial Officer Torben Okkels, together with a co-founder and head of Endofa’s Dubai office, leaving their positions.
Okkels earlier gave an interview to Shipping Watch, noting of Endofa recording net profit of DKK 3.5 million ($535,000) in 2016 after losses in the earlier year.
“We focused on our bottom line which followed us in everything we do. Before we were busy creating growth but unfortunately that meant that we forgot the bottom line. We changed that in 2016,” he says.
“We're better at choosing our battles. Despite a lower oil price in 2016, we still grew our revenue to almost DKK 1 billion while the bottom line shows a profit.”
Article credit: Shipping Watch
Publication date: 8 January, 2018
Current low prices for road and aviation fuels in September could mean another increase of flashpoint off-spec cases for MGO when players start introducing the products back into the bunker stream.
Some bunker suppliers at various ports have even achieved their sales target for the year; the trend doesn't seem to be slowing down and suppliers are expecting a boom during end of September.
The company has entered a memorandum of agreement with Millenium Satu Ltd to acquire the 7,550 dwt oil tanker to increase service flexibility; vessel will be paid over an installment period of 36 months.
Deloitte & Touche JMs believe IPP has a viable claim against Dr Goh Jin Hian for breaches of his director’s duties to act with skill, care and diligence which he owned to IPP, states court document.
An earlier MPA notice outlined precautionary measures for personnel to observe when conducting marine refuelling operations at port in order to minimise the risk of contracting Covid-19.
Mok’s offence affected public confidence in the use of the MFM system onboard Singapore bunker tankers, and caused an embarrassment to the MPA, said Deputy Public Prosecutors.