Bunker Detectives Establish Subsidiary in Panama, Eyes Further Expansion into Middle East Bunkering Market

Mr. Victor Tapia has been appointed as Operations Manager / Chief Surveyor at the newly established office in Panama.

Bunker Detective CEO and Founder Kaivan Chinoy has announced in an emailed press release the opening of a new subsidiary in Panama, and says the company is now eyeing further expansion into the Middle East bunkering market.

"As the expansion of the Panama Canal comes to completion, Post-Panamax vessels will be able to transit through the Canal, with up to 13,000 TEUs. The expansion thus will double the Canal's capacity, having a direct impact on economies of scale and international maritime trade," said Chinoy.

"With this view in mind we have extended our reach far south of the border to service the Latin / South American markets. Also due to this many regions in this area are preparing for an increase in trade through infrastructure improvements in order to capitalize on new opportunities due to this expansion; as such establishing our own offices in Panama made sense."

Chinoy said that the opening of the Panama location was the second "major milestone" for the Vancouver, Canada-headquartered marine surveying organisation, which follows the September launch of a subsidiary in Singapore.

Bunker Volumes

In October the Chairman of Panama Chamber of Shipping's Bunkering Committee said Panama can regain lost ground to once again become the world's third largest bunker market, and Chinoy says that the Canal's expansion will give bunkering a boost at the port.

"Due to the expansion of the Canal we foresee increase in bunkering activities; even though Panama won't be overtaking the likes of Singapore, Antwerp or Fujairah anytime soon but we feel that this is reason enough to have a permanent presence in this region," he said.

Effective October 25, 2014, Mr. Victor Tapia has been appointed as Operations Manager / Chief Surveyor at the newly established office in Panama.

Tapia was said to be a former Operations Manager at Intertek, and over the last 10 years has also worked with US based Antares Oil Services LLC as Loss Control Inspector.

Bunker Detective Panama currently has six full time surveyors who will be undertaking bunker quantity and bunker detective surveys on approximately 35-40 vessels a month on both sides of the Canal.

Chinoy added that the surveying activities will not be limited to only Panama but will also be serving nearby Latin American countries including Colombia, the Caribbean, and North Brazil up to Trinidad.

"Bunker Detective has come a long way since its inception in 2013 and with more and more clients inquiring and utilizing our expertise, future plans for expansion are very likely," he said.

"The goal is now to capture the Middle East bunkering market by establishing an office perhaps in Dubai or Fujairah."

Contact details for the new operation are as follows:

Victor Tapia
Operations Manager / Chief Surveyor
C: +507 6724-0446
T: +507 6733-2943
F: +507 227-5025
v.tapia@bunkerdetective.com
panama@bunkerdetective.com

Bunker Detective Panama S.A.
La Loceria, John Paul II Ave. Local # 3
Panama 0823-01695 Republic of Panama