Chemoil Sparks New Age for Independents in 2008

Wednesday, December 19, 2007
Dynamics within the global marine fuel industry are shifting rapidly according to Chemoil Energy Ltd. With a growing physical presence in the world's four key oil ports, following the launch of its Helios Terminal, Chemoil is confident that its ability to effectively manage its customers complete delivery supply chain on a global basis can lead a new age for independent marine fuel suppliers and present a serious challenge to the industry status quo.

In January 2008, the company will begin operations at its 448,000 cubic meter Helios terminal in Singapore, and is also planning to start delivering fuel from the GPS-Chemoil terminal in the UAE port of Fujairah shortly afterwards. This will provide a physical presence in the world’s four key oil products' markets alongside Rotterdam and the US Gulf. Cumulatively, around 57million [1] metric tonnes of marine fuel were delivered at these locations in 2006. In addition to demonstrating how independent fuel providers can expand into high volume locations through investing in capital improvements generated through its IPO, Chemoil is also re-shaping these markets by controlling all key aspects of the supply chain, something that the oil majors have shied away from in the last decade. For example, in Singapore, the world's largest bunkering hub, Chemoil has invested $122m in its Helios Terminal. This will allow Chemoil control over its entire delivery supply chain from tank to ship; sourcing fuel products, terminalling, blending and barging. Through this physical infrastructure combined with over 26 years of focused industry expertise, customers will benefit from increased reliability, quality, consistency, value and flexibility of service.

Furthermore, through its joint venture in Fujairah with Gulf Petroleum Services, Chemoil will be utilizing existing capacity at the GPS/Chemoil terminal whilst construction work progresses to expand its facility to a total capacity of 326,000 cubic meters by January 2009. The company will also control its own barging function. With a foothold into a region that supplies around 13million metric tonnes of marine fuel a year and is currently un-serviced by the majors, Chemoil is seizing an opportunity to provide a broader service base and greater product range to some of the world’s largest shipping operators. Through its off-shore operations in the US Gulf and Fujairah, the company is broadening its customer base through increasing its supply to the word’s leading tanker operators.

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