UAE-based vessel operator, Oilmar Shipping and Chartering on Wednesday (23 September) said it is venturing into bunker trading amidst global pandemic and socio-political uncertainty looming in various regions around the world.
Shipping and trading industry has always been at the forefront of ambiguity and upheaval, it said.
However, there is always a window of opportunity for some players, and the bunker industry is not an exception, explained Oilmar.
“Oilmar has already been in the oil trading and shipping industry since 2015, so we are well-aware and informed concerning challenges faced by the global economy and trade,” said the company in a release.
“In spite of everything, we are fully prepared, vigilant and have started our bunker trading desk from 15 of September 2020 under the brand name Oilmar DMCC”.
The company said its bunker trade operations will cover the Middle East, South Asia, South East Asia, Africa, Black Sea, Far East Russia, Mediterranean till Gibraltar, ARA Region and English Channel.
Its customer base will cover almost all segments of the shipping industry and it has future plans to expand over to the American Continents, Canada and Caribbean Islands.
As a starting point, Oilmar said it plans to expand its Dubai office and eventually expand to other parts of the world in coming months.
Customer Credit Control of the bunker trading team has been assigned to qualified experts of risk management, and credit insurance is also in place to cope with bunker industry credit exposure.
Photo credit: Oilmar Shipping and Chartering DMCC
Published: 24 September, 2020
