Marine fuel brokerage service provider LQM Petroleum Services on Wednesday (27 January) announced it will focus efforts on continuing to develop its global activities with the US office as its main pillar.
As a consequence, LQM will be closing its London office at the end of January.
Bunker Holding acquired LQM in 2015 and LQM has more than 35 years of experience providing fuel brokerage and trading, risk management, and tailored outsourced procurement solutions.
The new LQM London office was inaugurated in 2019 and became fully staffed by January 2020.
“The past year has brought both unforeseen and unprecedented challenges to the entire industry. To ensure we remain agile and keep a competitive edge, we are continuously scaling and optimising all aspects of our business,” said Christoffer B. Lassen, CCO of Bunker Holding.
“Consequently, we must know when it is the right time to scale down for some of our services and activities to ensure consistent overall growth.
“We want to thank the employees for their commitment and contribution throughout their employment with LQM Petroleum Services.”
LQM noted it remains in a solid position, and the entity will continue along its current growth path and deliver strong results globally.
Photo credit: Bunker Holding Logo
Published: 28 January, 2021
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