EMEA News
Reports: Bomin to Exit Gibraltar Physical Supply Market
Bomin Group will exit Gibraltar's physical supply market at the end of November, several local sources have told Ship & Bunker.
The supplier is understood to have so far notified only local players and relevant counter-parties of the move.
Bomin was contacted by Ship & Bunker regarding the matter and was told it has no comment at this time.
It is understood that local staff have been offered relocation, and at least one employee has subsequently left the company.
Bomin is however set to remain physical in Algeciras, sources have told Ship & Bunker.
The company started physical operations in Gibraltar in 2001, before expanding operations into Algeciras in July 2013.
Bomin's exit will mean that Peninsula Petroleum Limited and Aegean Marine Petroleum Network Inc. will be the only remaining players to have the flexibility of supplying on both sides of the bay, in Gibraltar and Algeciras' waters.
The development comes in a year that has otherwise seen much expansion for Bomin.
In October Ship & Bunker reported the supplier had started new physical operations in Antwerp, the fourth new bunkering operation for Bomin this year, following new operations in Copenhagen, Russia's Far East, and Rostock, Germany.
