Bunker Fuel Services News

Funds managed by IK Investment Partners (IK) have entered into an agreement with the Norwegian foundation Det Norske Veritas (DNV), to acquire its subsidiary DNV Petroleum Services (DNVPS), a global leader in fuel management services. Financial details for the transaction were not disclosed. Founded by the Norwegian foundation DNV in 1981, DNVPS is a leading global provider of fuel management services for the maritime and power sectors with customers including ship owners, managers and charterers as well as power plant operators.

GAC Bunker Fuels unveiled plans to relocate the headquarters of its global bunker fuel services to Dubai under the new company name, GAC Bunker Fuels Ltd. The company also announced the appointment of Nicholas Browne as the new Global Director of GAC Bunker Fuels and Anthony Mollet as Commercial Director – Shipping (GAC UK). GAC Bunker Fuels’ relocation to Dubai will take place in August 2012.