Dynamic Oil Completes First Year of Trading

MarineLink.com
Thursday, October 31, 2013
Dynamic Oil Trading CEO Lars Møller

Dynamic Oil Trading, the global trading company for marine fuels and lubricants, reported a successful first year of operations since the launch of the company in October 2012. The company said it sales performance, supported by its significant financial backing, has served to create the foundation for increased customer acquisition and growth.

In the 12 months since its establishment, Dynamic Oil Trading has expanded rapidly and now has a ten-strong bunker trading team based out of its global headquarters in Singapore. The company is also launching a new office in Dubai to serve its customers in the Middle East with plans for further expansion in Asia and Europe.

Commenting on Dynamic Oil Trading’s first year of operation, CEO Lars Møller attributes the success of the past 12 months to a combination of factors:

“We have had a very positive first year with high monthly sales volumes and a consistently strong financial performance. We’ve built a world-class team of bunkering professionals who all share our ethos of delivering what the customer needs, whatever the challenge. They all have a deep experience of working in the bunker industry and the ‘can-do’ attitude that we look for, which has helped us to develop outstanding relationships with our global network of customers, suppliers and other partners.

“In conjunction with this, we also have strong financial backing, which is a real differentiator in today’s market. At a time when many shipping companies are struggling to secure lines of credit, this means that we can offer extremely competitive terms, where appropriate, to our customers. We have also worked hard to build a reputation for Dynamic Oil Trading as a trader that the world’s leading shipping companies can rely upon to meet their fuel needs and to help them to navigate the challenges posed by fluctuating fuel prices.”

The company is confident of continued expansion in 2014. It believes that market conditions will remain challenging over the course of the next 12 months, with limited access to credit. Fuel prices will continue on an upward trajectory, albeit with continued volatility, and charter rates may remain depressed amid ongoing concerns over over-capacity. This will continue to place pressure on shipping companies to ensure that their fuel procurement arrangements are as efficient as possible. In conjunction with this, it is important for shipping companies to remain vigilant about the quality of product that they are purchasing, which makes it vital that ship owners and operators work with fuel suppliers that they trust and can help them to minimize the financial, environmental and compliance risks that they face.

Lars Møller concluded, “As the shipping industry continues to strive against the tough economic conditions and a changing regulatory environment, our focus will remain on helping our customers to meet the challenges that they face and fulfilling our core goal of ensuring that they get the quality and quantity of fuel they need, whenever and wherever they need it, at the right price and on the right payment terms. We expect to grow further in the year ahead, including the potential for the expansion of our network of offices within Europe and Asia to complement our offices in Singapore and Dubai. This means expanding our teams and we are proactively looking for the right people with the right profile to join Dynamic Oil Trading.”

dynamicoiltrading.com
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

FMT Options for another Towboat from Eastern

Eastern Shipbuilding Group, Inc. announce that Florida Marine Transporters, Inc. of Mandeville, La. exercised another additional 90’x32’x10’ “Canal Class” Inland

Caterpillar: Q3 Results Show Improvement

Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.

Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter

Marine Power

John Deere Expands Tier 3 Engine Line

John Deere Power Systems (JDPS) has introduced new propulsion ratings to its EPAMarine Tier 3 engine offerings. The new PowerTech 4045TFM85 propulsion ratings expand

Caterpillar: Q3 Results Show Improvement

Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.

ABB: Remote Monitoring Link to Fuel Efficiency

Anticipating the maintenance of equipment on board ships in order to increase fuel efficiency could be a “real game changer in the future,” said Andreas Zito, chief technical officer of the V.

News

A History of U.S. Oil Export Controls

On Oct. 20, 1973, King Faisal of Saudi Arabia imposed a total embargo on oil shipments to the United States among other countries in response to their support for Israel during the Arab-Israeli war.

New York, London Juxtaposed by New Maritime Event

On November 13, the newly formed New York Maritime Consortium, a coalition of leaders from New York Maritime Inc. (NYMAR), the Society of Maritime Arbitrators (SMA),

Transas to Supply TechSim Solutions to SUNY Maritime

The Navsim Services and Transas Americas Team, have been awarded contracts for supply of a combination of full mission, classroom and cloud based Transas Technical

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.3468 sec (3 req/sec)