Propeller Fuels Limited (PFL), the UK-based physical supplier and global bunker trader, on Wednesday (6 February) announced the opening of its new trading office in Dubai.
“The JLT based office is the next step in growing our presence in the Middle East market. This key location enables our team to provide high quality service to customers and suppliers close to one of the world’s major bunkering hubs – Fujairah – along with local UAE surroundings,” it said in a social media post.
“We have recently appointed Matthew Parkhurst as Group Supply Manager in Dubai. Matthew brings a wealth of procurement knowledge and relationships, which will add value to the purchasing requirements of our clients, helping guide on best price, purchasing practice and quality guidance, due to his prior experience on the buying side from a globally renowned ship owner.”
Manifold Times previously reported PFL successfully extended a funding application of over eight figures with their banking partners HSBC UK, effectively doubling their funding facility.
To allow the company to be adequately resourced for the next phase in its expansion into Scandinavia and Asia, PFL engaged with its banking partner HSBC UK seeking to double its financing facility and were delighted to receive the approval and full backing of HSBC UK for the facility increase.
PFL started trading late 2017 as a physical supplier in most UK ports, with particular emphasis on the UK eastern Seaboard. Operating primarily using the storage and extensive delivery assets of partner and corporate shareholder Your NRG (previously Oil NRG), PFL quickly grew to become a key UK supplier by RTW, with the focus being on Marine Gasoil.
In 2019, PFL branched out into international trading, with the recruitment of several experienced traders into the UK office supporting this initiative. This activity was supported by a finance facility provided by the company’s banking partners, HSBC UK. This initial facility provided the capacity for Propeller Fuels to grow its business and service a larger global market.
Photo credit: Propeller Fuels
Published: 7 February, 2023
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