OW Bunker has entered into a partnership with Petrocosta CI SA, a Colombian fuel marketing and transportation company. The agreement will further develop OW Bunker’s physical distribution network of marine fuel in Colombia and support its growth across Latin America.
Petrocosta’s responsibilities will include the sourcing, blending, storage and transportation of marine fuel products. OW Bunker will handle the sale and marketing of products through its existing network, as well as provide risk management
and other related services.
A full range of high quality marine fuels, including low sulfur fuel oil, marine gas oil, and various lubricants will be initially available in Cartagena through the partnership, with potential expansion into key ports along Colombia’s Caribbean Sea coast where Petrocosta operates.
Pedro Gómez, Regional Manager of OW Bunker Latin America, commented: “As Latin America’s trade growth is poised to rise, entering into a strategic partnership with Petrocosta CI. SA, is a strategic, timely move that will allow us to further strengthen and expand our services for customers in Colombia. Based on our existing relationship, we are mutually confident that our ambitions and operational synergies are closely aligned. Combining OW Bunker’s strong financial position, global network and local presence with Petrocosta’s strong distribution capabilities, market expertise and access to the highest quality products, provides a very strong, integrated customer proposition that will also benefit both companies’ growth plans.”
This partnership succeeds the opening of OW Bunker’s office in Cartagena this past January, and builds upon its presence in the Latin America region, including physical distribution and marketing operations in Panama, Uruguay and Brazil as well as a Chile-based sales office.
Headquartered in the Port of Cartagena, Petrocosta has a fleet of five distribution vessels; Marinse I 1,200MT, Pontomar 47 900 MT, Petrocosta I 300 MT, Petrocosta II 650 MT for IFO and 200 MT for MGO, and floating storage vessel Statia 8500 MT. Each vessel has been configured for safe and efficient delivery in port and at outer port limits. Petrocosta utilizes local refineries and independent oil fields as the resource all fuel. Straight run fuel is transported to the company’s floating storage unit for blending and processing according to ISO regulations. All products are independently tested and verified before delivery to customers, conforming to OW Bunker’s Global Quality Standard.
Antonio H. Reinoso, Petrocosta Comercial Director, commented: “OW Bunker has access to a global customer network, as well as the financial strength to help facilitate our market growth, especially as there is potential to increase our reach across Colombia’s northern coast. With over 15 years experience in the marine fuels market, we are proud to have a partner with such strong brand recognition, operational expertise as well as a range of value-added services. Through this agreement, we will create a stronger, more flexible marine fuel supply chain for our customers in Colombia.”