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Tue 24 Jun 2014, 12:07 GMT

OW Bunker acquires Wilhelmsen Marine Fuels


Wilhelmsen Marine Fuels is due be integrated as a fully owned subsidiary of OW Bunker as of July 1.

OW Bunker, one of the world's leading physical distributors and resellers of marine fuels, has today announced that it has acquired marine fuel broker Wilhelmsen Marine Fuels, a subsidiary of Norwegian Wilhelmsen Maritime Services, for an undisclosed sum.

Wilhelmsen Marine Fuels' main activity is broking services from offices in Oslo, London and Singapore, servicing customers on a global basis, but with a key presence in Singapore and the ARA region (Amsterdam, Rotterdam, Antwerp).

Commenting on the news, Executive Vice President, Götz Lehsten, OW Bunker, said: "Wilhelmsen Marine Fuels has a strong team and an interesting customer base that fits well into OW Bunker's integrated business model. Apart from strengthening our position in Norway, Wilhelmsen Marine Fuels has the potential to support both our reselling and physical distribution activities."

Wilhelmsen Marine Fuels, part of the Wilhelmsen Group since 1995, has 15 employees and is set to continue operating as a separate business within the OW Bunker group, while at the same time benefitting from OW Bunker’s financial strength, scale of business, global network and risk management solutions.

Wilhelmsen Marine Fuels is due be integrated as a fully owned subsidiary of OW Bunker as of July 1, 2014. As Wilhelmsen Marine Fuels is primarily a bunker broker company, OW Bunker said the acquisition will only have "a very limited effect" on the total marine fuel transaction volume of OW Bunker.

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