Swedish bunker supplier Gasum on Thursday (30 April) said it has closed the acquisition of Linde AG’s liquefied natural gas (LNG) and biogas business in Sweden and Norway, and Nauticor’s marine bunkering business in Germany.
The acquisition is an integral part of Gasum’s strategy execution to accelerate growth for cleaner transport solutions across the Nordics, it said.
Along with the acquisition, the company notes it further strengthens its capacity to offer a broad range of gas solutions for various customer segments in multiple locations.
In the transaction, Gasum acquired Linde’s LNG and biogas business and Nauticor’s marine bunkering business, and around a total of 35 employees, a customer base and several assets. The businesses generate annual revenues of more than EUR 100 million.
The transaction strengthens Gasum’s strategy by developing the Nordic gas market and creating a platform for a broader offering to its customers in the maritime, industry and road transport segments.
The acquisition also accelerates Gasum’s growth strategy for cleaner transport solutions in the Nordic heavy-duty vehicle market.
”We are very pleased about this transaction which is an important step for Gasum when building the Nordic gas ecosystem and responding to increasing customer demand for low-emission energy solutions,”says Gasum CEO Johanna Lamminen.
“The acquisition is part of our strategy execution and further strengthens the company’s capacity to offer gas solutions for various customer segments in multiple locations.
“The acquisition enables Gasum to supply and to ensure the availability of a competitive, low-emission form of energy to meet the demands of industrial, maritime and road transport customers in the Nordic countries.”
“We are certain that Gasum will be a strong owner that will successfully develop the cleaner energy and maritime bunkering businesses further,” says Jan Ellringmann, Business President, Linde Region Europe North.
In the transaction, several assets were transferred to Gasum:
Related: Gasum to acquire LNG marine bunkering business from Linde
Photo credit: Wärtsilä
Published: 5 May, 2020
Shipowner bought from supplier small-sized clip at price in lower $570/t level for delivery in second half of May.
At least two lenders are blocking short term credit facilities to the firm amidst doubts on the firm’s ability to repay the debts, according to a Bloomberg report.
CTI-Maritec expects to receive more biodiesel blends for analysis as vessel owners switch to biodiesel blends to comply with regulatory requirements on reduction of GHG emissions.
Introducing incentives for bunker fuel suppliers to make low- and zero-carbon fuels available in the market is a prerequisite for the decarbonisation of the sector.
Firm enters into 10-year investment agreement with Saudi Ports Authority to provide marine fuels for incoming vessels visiting the purpose-built facility.
The High Court affirmed the decision on 4 February 2021, noting that there was 'strong justification for the forfeiture, according to the Singapore Police Force.
‘This biofuel bunker delivery represents a new chapter for Eng Hua as we are now moving with the times towards the era of decarbonisation,’ Mike Sin, Director at Eng Hua, tells bunkering publication Manifold Times.
MPA has also asked Glencore to improve its internal procedures to ensure that prompt action is taken in future when it becomes aware of, or reasonably suspects, any irregularity in fuel quality, it states.
Dynamic Asset Investments Limited and Goldsland Holdings Co Ltd helped Vermont UM Bunkering maintain a “Cash Float” of about SGD 100,000 to facilitate “buyback” bunker transactions at Singapore port.
Senior Cargo Officer gained SGD 48,800 worth of commission from “buyback” bunker transactions and illegally obtained SGD 410,712.257 by cheating Vermont, a Singapore court heard on Thursday (21 July).
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
