---

Bunkers International Corp. has announced that it has expanded its bank credit facility with its primary bank.

The company has increased its existing eight-figure, multi-million dollar credit facility by 70 percent and expanded the term of the facility by 'several years'.

Commenting on the development, CEO John Canal said: “Bunkers International is pleased with our expanded credit facility, we know that not all companies are strong enough to obtain more tier-1 bank credit in these times ”

“It provides us with access to tens of millions of dollars in liquidity every day to use to continue to grow our global operations. Combined with our sophisticated credit management system and world class credit-insurance it provides our customers and partners with the comfort of knowing they are dealing with a financially secure counter-party. The increase comes at a time when bunker prices are at record highs, this will help us to provide further trading capacity for our clients,” he added.

“A lot has been written recently about customers needing to choose the right trading partner in risky times ”, said Alfred Canal, Chief Financial Officer of Bunkers International, “With this credit facility and the credit management infrastructure we have in place, we are that partner. Our conservative approach and fiscal discipline have enabled us to develop extensive trade credit around the world by always meeting our obligations to our trading partners”.

Bunkers International has been expanding operations globally since 2000, creating new operations in Colombia, New York, the UK, Singapore, Hong Kong, Malta, Turkey, and South Africa. The company has significantly increased its trading division, helping drive a six-fold increase in revenue in the past four years.

"With strong capitalization, a global customer base of thousands of ship operators, and supply operations on both coasts of Colombia, Bunkers International is well positioned to serve the global market," Bunkers International said.