VPS Wants to Expand in Bunkering, Shipping Sectors

by Ship & Bunker News Team
Friday July 18, 2014

Veritas Petroleum Services (VPS), formerly known as DNV Petroleum Services (DNVPS) plans to expand across the bunker fuel and shipping sectors, Platts reports.

VPS hopes to expand into global markets, including moving into South American markets this year and into China in the near future, CEO Eirik Andreassen said.

The company, which was acquired by private equity firm IK Investment Partners in October from former owner Det Norske Veritas (DNV), has moved its headquarters from Singapore to Rotterdam.

VPS wants to offer "condition-based surveys," checking on vessels before they change hands after being hired, something that would have been a conflict of interest with DNV's classification business.

The company will continue to work with DNV in some areas but will also expand into new fields such as oil and gas testing, offshore supply and vessel testing, and oil-fired power plants.

Andreassen said VPS has begun testing biofuels and is looking to add testing of liquefied natural gas (LNG) and lubricants, as well as testing for ship-to-ship transfers.

He added that the company's expansion could be purely organic or involve the acquisition of other companies.

The company announced its new name and branding earlier this week, saying that the change completes its independence from DNV.

Ship & Bunker News Team
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