Bomin Exits Bunker Markets in Singapore, Antwerp
The Bomin Group, a supplier of marine fuels, has announced that it will exit the bunker markets in Singapore and Antwerp.
Going forward Bomin will operate from only two offices: Houston and Hamburg. The two offices will serve all Bomin customers in all German ports, the US Gulf Coast, Panama, Norfolk, and Ecuador.
“The Bomin group is in a transformation and restructuring process and intense competition and low margins characterize the situation in all major ports,” says Jan Christensen, Managing Director of Bomin Group. “We see many bunker companies making major adjustments to their operating models in preparation for IMO 2020.”
It is therefore critical that Bomin creates a strategy and market positioning that is fit for purpose, commercially viable, and ensures its sustainability in a post-2020 world.
The closure of the operations in Singapore and Antwerp are scheduled to take place this year.
The Bomin Group has been active in the bunker business for more than 40 years via its subsidiaries. Bomin is 100 percent owned by Mabanaft.