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

People & Company News

Piraeus Port Posts Flat Profit, Sales Dip

Greece's Piraeus Port (OLP) , the largest in the country, said its first-half net profit was almost unchanged from the same year-ago period, while sales fell. Piraeus Port,

Hyde Marine to Display Ballast Water Tech at SMM

Hyde Marine, Inc., a ballast water treatment technology company, will showcase its Hyde GUARDIAN Gold HG250G Ballast Water Treatment System (BWTS) at the upcoming Shipbuilding,

Report: Ports Lack Maintenance Support

The latest Barometer Report from Trelleborg has revealed a huge gap in the maintenance requirements of port owners and operators, and the support that suppliers are able to provide.

Fuels & Lubes

Wishful Thinking From Across the Pond

European Shipowners Pursue Softening of the Jones Act Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined that

Wärtsilä Upgrades Fuel Gas Handling Solution

With LNG becoming increasingly viable and popular as a marine fuel, Wärtsilä continues to develop technical solutions that facilitate this trend. The latest Wärtsilä

First Shipment of Russian Novy Port Oil

Gazprom Neft provided a summer shipment of oil from Novoportovskoe deposit – for the first time, the raw material was taken by sea and sent to European consumers,

Marine Power

First N.American Boat Powered by Volvo Penta IPS

Thomas Paine, the new 50-ft. aluminum patrol boat that joined the Massachusetts Environmental Police fleet in July, is the first commercial vessel in North America

WR Launches On-stack Scrubber Emission Monitor

WR Systems (WR), the U.S.-based maritime technology company, is launching a new variant of its laser-based-emissions monitor at the SMM 2014 Fair in Hamburg. Called the Emsys-iS,

CMR Debuts Engine Supervision and Management Software

CMR Group has introduced a new Integrated Alarm Monitoring and Control System (IAMCS) for marine and naval engine applications which it said provides technologically-advanced

News

Survitec Escape Slide Chosen for Norwegian Ferry

The all-electric Zero Cat ferry, currently under construction at the Fjellstrand yard in Norway, will enter service next year with Norled as the first Norwegian

First N.American Boat Powered by Volvo Penta IPS

Thomas Paine, the new 50-ft. aluminum patrol boat that joined the Massachusetts Environmental Police fleet in July, is the first commercial vessel in North America

Piraeus Port Posts Flat Profit, Sales Dip

Greece's Piraeus Port (OLP) , the largest in the country, said its first-half net profit was almost unchanged from the same year-ago period, while sales fell. Piraeus Port,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
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: 0.3019 sec (3 req/sec)