Bomin exits the bunker markets in Singapore and Antwerp
The Bomin Group, a supplier of marine fuels, today 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.
Mabanaft GmbH & Co. KG is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of energy supply, trading and logistics. Mabanaft’s business encompasses the import and wholesale of petroleum products. Furthermore, the company is active in bunker services, service stations, end-consumer business, lubricants and biofuels.
Marquard & Bahls AG is a Hamburg-based company that operates in the fields of energy supply, trading and logistics. Its core lines of business include trading, tank storage logistics and aviation fuelling. Furthermore, the company is active in dry bulk handling, biogas, carbon trading, fuel analysis and energy services. Through its subsidiaries, Marquard & Bahls has a presence in 36 countries in Europe, America, Asia and Africa and employs more than 7,700 people.