No Official Comment Yet From Bomin on Trading Office Closure Talk

by Ship & Bunker News Team
Wednesday November 2, 2016

Global bunker player Bomin Group is set to close three of its trading offices, with further closures potentially to come, industry sources familiar with the matter have told Ship & Bunker.

The company's offices in Athens and London have closed, with an office in Brazil among other trading offices potentially in-line for closure, Ship & Bunker understands.

Ship & Bunker, who became aware of the development yesterday when rumours of the move began to circulate, has been seeking official comment on the matter from Bomin, but was told late Wednesday that such a communication would not be made today.

However, a customer communication from Bomin is understood to have noted the increasing difficulties faced by the changing market, and indicated the move was taken to bring the business more in-line with its current vision.

This sparked some industry watchers to speculate that the supplier now intends to focus more on the physical side of its business.

One industry veteran unconnected with Bomin, who asked not to be named, told Ship & Bunker the move was as a positive one for the supplier.

"I commend Bomin for these moves, they're doing what everyone else should be doing, and doing it first, ahead of everyone else," they said.

"Every other big name trader out there needs to realize what we've been experiencing are no longer just temporary problems - they do need permanent solutions."

The news follows developments last month that saw Bomin exit its LNG bunker joint venture, and expand its physical operations in Singapore.

Ship & Bunker News Team
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