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Wed 12 Oct 2016, 11:02 GMT

Bomin sells stake in LNG bunkering business


Bunker firm cites slower-than-expected demand for LNG as a reason for its decision.

Global bunker firm Bomin Group has sold its shareholding in the joint venture LNG bunkering business Bomin Linde LNG

The company's 50-percent stake in Bomin Linde LNG, which was established in 2012 with joint venture partner Linde AG, has been acquired by Linde AG. It now owns all the shares in the business.

Commenting on the reason for the decision, the Hamburg-based bunker specialist said: "Bomin took the decision based on the speed of transition within the marine fuel supply chain in line with changing regulations. The demand for LNG has been slower than anticipated, and while LNG remains a viable clean fuel product, Bomin's focus in the short to medium term will be on other alternative products that meet emissions regulations."

According to Bomin, Linde AG will be able to continue using the Bomin Linde LNG name until the end of March 2017, before it will be replaced by a new brand.

Commenting on the news, Bernd Eulitz, member of the executive board of Linde AG, said: "Bomin Linde LNG will complement and expand our existing LNG portfolio, offering customers access to a unique spectrum of LNG infrastructure in the Baltic Sea and North Sea region."

Bomin is a subsidiary of Marquard & Bahls AG. Other subsidiaries are: Mabanaft, Oiltanking, Skytanking and Mabagas.

Image: The head office of Bomin Group and Marquard & Bahls at Koreastrasse 7, in Hamburg's HafenCity.

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