OW Bunker Acquires Wilhelmsen Marine Fuels
OW Bunker, a physical distributor and reseller of marine fuels, today announced that it has acquired marine fuel broker Wilhelmsen Marine Fuels, a subsidiary of Norwegian Wilhelmsen Maritime Services, for an undisclosed sum.
Wilhelmsen Marine Fuels’ main activity is broking services from offices in Oslo, London and Singapore, servicing customers on a global basis, but with a key presence in Singapore and the ARA-region (Amsterdam, Rotterdam, Antwerp).
Executive Vice President, Götz Lehsten, OW Bunker (OW2.SG), commented, “Wilhelmsen Marine Fuels has a strong team and an interesting customer base that fits well into OW Bunker’s integrated business model. Apart from strengthening our position in Norway, Wilhelmsen Marine Fuels has the potential to support both our reselling and physical distribution activities.”
Wilhelmsen Marine Fuels, a part of the Wilhelmsen Group since 1995, has 15 employees and will continue as a separate business within the OW Bunker group, while at the same time benefit from OW Bunker’s financial strength, scale of business, global network and risk management solutions.
Wilhelmsen Marine Fuels will be integrated as a fully owned subsidiary of OW Bunker as of July 1, 2014. As Wilhelmsen Marine Fuels is primarily a bunker broker company, the acquisition will only have a very limited effect on the total marine fuel transaction volume of OW Bunker.