OW Bunker, Petrocosta Collaborate in Latin America

Posted By Gabby DelGatto
Monday, August 11, 2014
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.”

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Winners of Ferry Design Contest Selected

Winners of International Student Design Competition for a Safe Affordable Ferry to be revealed at the Ferry Safety and Technology Conference   Dr. Roberta Weisbrod,

Maritime Consolidation: Palfinger Aims to Acquire Harding

As maritime markets continue to struggle, merger and acquisition activity should heat up. Today, Austria's Palfinger Group announced that it intends to acquire

Glosten Promotes Lamkin to Senior Marine Consultant

Seattle-based naval architecture and marine engineering consultancy Glosten has promoted Bradley G. Lamkin, PE to Senior Marine Consultant. As a Senior Marine Consultant


HII Secures Aircraft Carrier Planning Contract

Huntington Ingalls Industries (HII) was awarded a $152 million contract for advance planning for the construction of the third aircraft carrier in the Gerald R.

Wood Group Bags Statoil MSA

Wood Group has been awarded an evergreen master services agreement (MSA) by Statoil to support the life cycles of its offshore  and onshore facilities. Work and

Russian Shipbuilder Wins $1 bln Iran Oil Rig Deal

Russian shipbuilder Krasnye Barrikady has been awarded a near-$1 billion contract by Iran to build five offshore drilling rigs for use on Iran's part of the Gulf shelf,

Tanker Trends

TORM CFO Zacho Resigns

Mads Peter Zacho, Chief Financial Offer at TORM, has resigned to become Chief Executive Officer at J. Lauritzen A/S. Mads has been with TORM since 2013 and will

Alfa Laval PureNOx Prime Ordered for Five VLECs

Alfa Laval’s new PureNOx Prime solution for water treatment in Exhaust Gas Recirculation (EGR), will be part of EGR systems on five very large ethane carriers

NASSCO Delivers Second ECO Tanker to APT

On Thursday, May 19, shipbuilders at General Dynamics NASSCO delivered the Magnolia State to longtime customer American Petroleum Tankers (APT). The ECO Class tanker


DP World Launches $1.2 bln Sukuk Issue to Cover Tender

Dubai-based ports operator DP World launched a seven-year $1.2 billion sukuk issue on Tuesday, a document from lead managers showed.   The issue, structured to

Baltic Index Falls on Weaker Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday as demand for larger vessel segments declined.

China Shipbuilding Plans Major Restructuring

State-owned China Shipbuilding Industry Corp (CSIC) is undertaking a major restructuring as it grapples with an industry downturn, and it will be the largest restructuring

Fuels & Lubes

ABB Saves 700,000 tons Fuel for Marine Vessels

ABB’s environmental friendly Azipod propulsion system brings greater fuel efficiency to diverse shipping segments ABB today announced the total fuel savings

First Cruise Company Fined under Australia’s New Fuel Rules

Australia’s NSW Environment Protection Authority (EPA) has fined Carnival PLC $15,000 after one of its P&O Cruises ships, the Pacific Jewel, breached new low sulfur fuel regulations in Sydney Harbour.

HUMMEL LNG Hybrid Barge Begins Second Season

For over one year the HUMMEL has been contributing to improved air quality at the port of Hamburg. Becker Marine Systems’ LNG Hybrid Barge will also be supplying


New Call at Port Kelang on CMA CGM’s REX 2

CMA CGM has introduced a new westbound call at Port Kelang on its REX 2 service connecting Asia with Red Sea.   CMA CGM has decided to replace its REX2 westbound Singapore call with Port Kelang.

Baltic Index Falls on Weaker Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday as demand for larger vessel segments declined.

Hapag-Lloyd Pushes Back AGM on Merger Talks

Hapag-Lloyd said it had decided to postpone its annual general meeting scheduled for June 1, 2016 due to ongoing merger talks between German container shipping

Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1223 sec (8 req/sec)