OW Bunker Acquires Wilhelmsen Marine Fuels

by Ship & Bunker News Team
Tuesday June 24, 2014

OW Bunker has acquired bunker broker Wilhelmsen Marine Fuels (WMF) from Wilhelmsen Maritime Services, the companies said in a statement.

"Wilhelmsen Marine Fuels has a strong team and an interesting customer base that fits well into OW Bunker's integrated business model," said Götz Lehsten, executive vice president at OW Bunker.

"Apart from strengthening our position in Norway, Wilhelmsen Marine Fuel has the potential to support both our reselling and physical distribution activities."

WMF, with 15 employees, will become a wholly owned subsidiary of OW Bunker starting July 1, 2014, and will continue as a separate business within the OW Bunker group.

"Bunker brokering is not a core activity for us, and we believe that Wilhelmsen Marine Fuels will benefit from and grow as part of an organisation mainly focusing on distributing and reselling marine fuels," said Dag Schjerven, president and CEO of Wilhelmsen Maritime Services.

Terms of the deal were not announced.

OW Bunker, which completed its initial public offering earlier this year, is widely seen as a company with strong growth potential.

Ship & Bunker News Team
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