O.W. Bunker Expands Far East Business

O.W. Bunker has expanded their activities in the Far East with the establishment of O.W. Bunker China Ltd. The new company will be situated in Hong Kong and is the result of the purchase of all activities from South Horizons International Petroleum Ltd. (SHIP), Hong Kong. With effect from 1st May, 2004, all bunker activities of SHIP Hong Kong will be transferred to the newly established company.

O.W. Bunker China Ltd. will concentrate their trading activities within the rapidly developing Chinese market. Mr. Ricky Tang and his staff from South Horizons International Petroleum Ltd., Hong Kong, will join the new company and thereby become members of the O.W. Bunker group. The vast experience and local knowledge of this team, combined with the global coverage of the OW Bunker group, will provide ship owners, managers and operators the opportunity to gain maximize service benefits, such as access to risk management products, while minimizing cost by trading with one of the worlds largest independent bunker companies.