Chemoil joins OceanConnect

Wednesday, January 02, 2002
OceanConnect has attracted the largest independent fuel supplier as a new equity partner. OceanConnect President Thomas Reilly announced that Chemoil Corporation has acquired an equity stake and is using OceanConnect as its exclusive online system for buying and selling fuels. Chemoil Group is the world's largest independent fuel supplier, selling over 12 million tons of fuel annually through complete bunkering services in the ports of Los Angeles, San Francisco, Houston, New Orleans, New York, Antwerp, Rotterdam and Singapore. Chemoil President and CEO Robert Chandran said "OceanConnect's traditional brokers provide the information and reliability that's vital in the marine industry, while their unique technology finds the best possible deal for buyers and suppliers alike. Chemoil and our customers are benefiting from our active participation." "We are proud to have Chemoil join OceanConnect as an equity partner. Chemoil's entrepreneurial culture fits perfectly with our own. This deal is part of an aggressive strategy to broaden OceanConnect's equity base and to continue creating value for buyers and suppliers. Additional new offerings will leverage our transparent marketplace and deep industry expertise," OceanConnect President Thomas Reilly said.

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