Minerva Bunkers Winding Up West Africa Physical Supply Operation: Sources

by Ship & Bunker News Team
Friday September 30, 2016

Several market sources Thursday said Minerva Bunkers is winding up its physical bunker supply operation in West Africa.

One source understood to be familiar with the matter told Ship & Bunker that a barge being used by Minerva had been returned earlier this week.

The Mercuria subsidiary began the WAF operation in January, saying it would "complement the company's current trading operation across the region."

Minerva Bunkers is also understood to be closing its offices in Seoul and Piraeus as part of a wider restructuring programme.

Miguel Fernandez, Physical Supply Business Development Manager for Minerva Bunkers at the time of the WAF launch, is also understood to have left the company, although one source told Ship & Bunker that his departure is unrelated to the WAF exit.

Fernandez's LinkedIn profile indicates this month he started a new venture as a trader and broker of futures and options.

Ship & Bunker contacted Minerva Bunkers' offices in Houston and Singapore, but has so far been unable to reach a spokesperson able to comment on the matter.

Ship & Bunker News Team
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