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

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

Marine Propulsion

ABB's 25th Year in Dubai

ABB Turbocharging is celebrating its 25th anniversary in UAE. Established in 1989 in Dubai, ABB has grown to become a fully-fledged service station capable

Moore Stephens Expects Vessel Operating Cost to Rise

Vessel operating costs are expected to rise by almost three per cent in both 2014 and 2015, according to a new survey by international accountant and shipping consultant Moore Stephens.

Wärtsilä Steerable Thruster Gets Class Approval

DNV-GL approved the design of the Wärtsilä WST-14 thruster, significant as approval was granted based on a thruster design that has yet to be introduced into full series production.

Fuels & Lubes

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

UASC Targets Expansion to Beat Container Market Blues

UASC expects to reach volume of 2.35 mln TEU in 2014 Global carriers still struggling with weak conditions United Arab Shipping Company (UASC) is on a major expansion drive,

Marine Power

Navy to Commission Submarine North Dakota

The Navy will commission its newest attack submarine North Dakota, during a ceremony Saturday, Oct. 25, 2014, at Submarine Base New London in Groton, Connecticut.

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.

News

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

USCG to Ensure Safety During World Series

The Coast Guard and local agencies are working to ensure the safety of boaters and baseball fans during World Series games at AT&T Park this weekend. The

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

 
 
Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.2722 sec (4 req/sec)