International bunker trading firms KPI Bridge Oil and OceanConnect Marine on Monday (3 August) announced the two companies have formally completed a merger to create a new brand and entity, KPI OceanConnect.
The merger, first announced in February 2020, now has full regulatory approval, and creates one of the largest and most experienced independent marine energy service and solutions providers in the world, it said.
KPI OceanConnect has a 170-strong team operating across 15 locations globally, and an established foothold in every major maritime hub and time zone.
KPI OceanConnect added it has a rich maritime heritage dating back almost 50 years, and both KPI Bridge Oil and OceanConnect have a reputation for integrity and trust in the market.
KPI OceanConnect’s CEO, Søren Høll, will be supported by an experienced and diverse management team from both organisations.
“We are delighted to confirm that KPI OceanConnect is now operational,” said Søren Høll, CEO, KPI OceanConnect.
“Our people are our strongest asset and we have got the ambition, commitment and resources to provide unparalleled career and professional development opportunities to our valued team members.
“Our professionals know and appreciate the issues that shipowners and operators are facing. We recognise the need to take a collaborative approach supporting our business partners to overcome the challenges of an ever-changing marketplace.”
“The formation of KPI OceanConnect is timely. The post-2020 market, COVID-19, and the dawn of new, low carbon fuels mean that market dynamics are evolving rapidly,” added S.I. Shim, Head of Asia, KPI OceanConnect.
“Ultimately, to thrive, ship owners and operators want to work with an experienced fuels services provider and a trusted counterparty that has a consultative approach and the financial strength, independence, and flexibility to provide the right solutions to meet their current and future demands.”
Over the next few months, KPI OceanConnect noted it will focus on successfully integrating both organisations, creating a common culture founded on shared values, and exploring the synergies to further expand the company’s service offering and support to business partners.
Photo credit: KPI OceanConnect
Published: 4 August, 2020
Charges from both firms will be effective from 1 June, due to recent increase in bunker prices.
Specifically, the potential use of Ammonia will be investigated from source to ship with all related safety, operational and sustainability considerations.
Bursa Malaysia filing showed 78.1 million shares representing 10% equity interest in Straits were transacted via an off-market transaction at USD 0.043 per share.
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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.
