OceanConnect Shareholders Reflect on Two Years of Growth

Tuesday, September 24, 2002
OceanConnect's board of directors and shareholders reflected on two years of strong growth at the company's annual meeting, held yesterday in Oslo. "I am pleased to report to our shareholders that in fewer than two years, OceanConnect has become the only fuel service combining traditional brokerage with live, online competition. The results speak for themselves: with growth of more than 40 percent per annum, the outlook is good for continued growth," OceanConnect President Thomas Reilly said. "In the coming year we will leverage our status as the only full-service bunker brokerage, offering online transactions, traditional bunker services, risk management, and comprehensive spend analyses."

Reilly and OceanConnect shareholders discussed the company's progress over the past year. In 2002, Chemoil, DS Norden, MarineProvider, Lazard, and Booz Allen & Hamilton joined OceanConnect's diverse equity base. OceanConnect expanded into Korea with the recent addition of S.I. Shim, Asia's most respected broker. Bob Fitzgerald, the founder of Bunkerfuels, joined OceanConnect earlier in the year. "In addition, OceanConnect launched a new transaction platform that allows speedy negotiation and firm counteroffers, useful for ports where there are only one or two suppliers," Reilly said. Collin Lewis, OceanConnect Board Member, noted that OceanConnect's strong annual growth was testament to the company's unique value proposition which combines the advantages of technology with proven brokerage expertise. "OceanConnect's technology brings transparency to an opaque market. OceanConnect's transparency and personal service help our customers find the best possible deal on bunkers," Lewis said. "Through OceanConnect, DS Norden's fleet is consistently saving on fuel costs in all of our key ports," said Michael Steenfeldt, Operations Manager at Dampskibsselskabet Norden A/S. After obtaining positive results from OceanConnect's services, DS Norden acquired an equity stake in the company in January 2002.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Chassis Pools for Port of Long Beach

Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1,

Davie Building LNG-powered Ferries

Canadian shipbuilder Davie held a keel laying ceremony for MV Armand-Imbeau II, marking the beginning of the hull assembly for this first of two sisterships under

Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1402 sec (7 req/sec)