Mercuria Adds Over 40 ex-OW Bunker Staff, 3 New Offices

by Ship & Bunker News Team
Tuesday December 16, 2014

Swiss energy and commodities trader Mercuria Monday announced it has hired more than 40 staff from bankrupt OW Bunker.

The new staff will focus on supplying bunker fuel to consumers, expanding Mercuria's role as a physical supplier.

"This is a natural expansion of our robust fuel oil trading infrastructure," said Magid Shenouda, Mercuria's group head of trading.

The group said it was exploring the development of a standalone subsidiary, Minerva, to encompass the activities of its new teams and "ensure the quality and delivery of energy needs to marine vessels."

Staff will be employed at new offices to be opened in Korea, Greece, and Japan, while others join existing offices at Houston and Geneva.

"With many years of experience in ship fuel management, these individuals have specialized skills to help reduce marine fuel price risk and control costs for counterparties," said Shenouda.

"Today, the Mercuria team has in-depth awareness of market developments in all the major oil trading forums. We have both a global perspective as well as local insight into real time market dynamics."

Mercuria was recently said to be looking also to add 12 ex-OW Bunker staff in Singapore, but there was no mention of this in Monday's statement.

Ship & Bunker News Team
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