OW Bunker to Expand Physical Operations in Latin America

OW Bunker opened its office in Cartagena, Colombia in In January 2014.

OW Bunker today announced it has entered into a partnership with fuel marketing and transportation company Petrocosta CI SA (Petrocosta) that will see further development of OW Bunker's physical supply network in Colombia.

In an emailed press release, OW said that Petrocosta will handle the sourcing, blending, and storage as well as the transportation of marine fuel products, while OW Bunker will be responsible for the sale and marketing of products including low sulphur fuel oil and marine gas oil.

The deal will also see sales of lubricants in Cartagena, with the possibility of a later expansion into Petrocosta's ports of operation along Colombia's Caribbean Sea coast.

"As Latin America's trade growth is poised to rise, entering into a strategic partnership with Petrocosta CI. SA, is a strategic, timely move that will allow us to further strengthen and expand our services for customers in Colombia," commented Pedro Gómez, Regional Manager, OW Bunker Latin America.

"Based on our existing relationship, we are mutually confident that our ambitions and operational synergies are closely aligned. Combining OW Bunker's strong financial position, global network and local presence with Petrocosta's strong distribution capabilities, market expertise and access to the highest quality products, provides a very strong, integrated customer proposition that will also benefit both companies' growth plans."

Cartagena-Headquartered Petrocosta says it has a fleet of five distribution vessels; 1,200 metric tonne (mt) capacity Marinse I, 900 mt capacity Pontomar 47, 300 mt capacity Petrocosta I, Petrocosta II with capacities of 650 mt for IFO and 200 mt for MGO, and 8,500 mt capacity floating storage vessel Statia.

Petrocosta's Commercial Director Antonio H Reinoso commented: "OW Bunker has access to a global customer network, as well as the financial strength to help facilitate our market growth, especially as there is potential to increase our reach across Colombia's northern coast. With over 15 years experience in the marine fuels market, we are proud to have a partner with such strong brand recognition, operational expertise as well as a range of value-added services.

"Through this agreement, we will create a stronger, more flexible marine fuel supply chain for our customers in Colombia."

OW Bunker opened its office in Cartagena, Colombia in In January 2014.