Singapore-based Sea Oil Petroleum has acquired Norwegian trading firm Pro Fuels in the quest to reach new markets and a significant incorporation in the Bunker industry.
Singapore Sea Oil Petroleum is the subsidiary of Sea Oil Company Limited based in Bangkok and Norwegian Pro Fuels will be renamed Sea Oil Petroleum AS in the process. The acquisition is a big part of Sea Oil’s expansion strategy and Koh Kuan Hua, Director of Sea Oil Petroleum said in a statement that with the team’s strong business acumen and documented experience he is sure they will succeed in building Sea Oil into an even bigger brand for the future.
It is expected from several senior figures within the bunker industry that this year will see consolidation with tougher access to credit favoring the largest firms and Sea Oil hopes to be the preferred choice for their clients.
Source: Ship&Bunker
