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

Contracts

SAAM SMIT Towage Brazil Signs on with Helm

Helm Operations has signed on Brazilian harbor services company SAAM SMIT Towage to its Helm Marine Operations software to manage its billing and dispatch.    SAAM

Siemens Wins Vessel Electrical Installation Contract

Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd.

New Domestic Ferry for Faroe Islands Service

Third generation domestic ferry for service between Nólsoy and Tórshavn in the Faroe Islands.   According to the vessel's designer, this project is the second

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.1290 sec (8 req/sec)