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 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

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

Fuels & Lubes

WSS: Post-combustion Fuel Treatment Cuts Vessel Costs, Risk

Wilhelmsen Ships Service, a provider of products and services to the shipping industry, is advising vessel operators to wage war on soot. According to WSS, soot

EGAS: Egypt to tender for 10 LNG Cargoes

Egypt will tender next week to import 10 cargoes of liquefied natural gas (LNG) for delivery in July and August, an official from the state gas company, EGAS, said on Thursday.

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

Marine Power

MAN 28/33D STC Engines for Thai Navy’s New OPV

The Royal Thai Navy has ordered a new 90-m offshore patrol vessel (OPV) to be constructed at Mahidol Adulyadej naval dockyard in Sattahip.  The newbuilding, an improved River-class design,

Norsafe Debuts New RIB in Gothenburg

Norsafe has released its first RIB, the Marathon 900, to compliment its range of boat models for professional and military customers.  Launched at High Speed

Wärtsilä Donates Engine to Texas A&M University

Wärtsilä has donated an 8-cylinder Wärtsilä 20 engine and generating set, to the Marine Engineering Technology Department at Texas A&M University at Galveston.

News

GloMEEP Project Forges Ahead with Train-the-Trainer Workshop

A global Train-the-Trainer workshop on energy efficiency has been delivered in China (23-27 May), preparing the personnel needed to cascade knowledge on energy

Diana Charters Out Two Bulkers

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels,

Long Beach Port Maintains Strong Bond Rating

Fitch Ratings, one of the top three U.S. credit analysis agencies, has affirmed the Port of Long Beach’s “AA” rating on its outstanding debt. Fitch stated the AA rating — its highest for U.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1273 sec (8 req/sec)