Americas News
Bunker One Enters New York Market With Element Alpha Storage Acquisition
Global physical supplier Bunker One has joined the New York market with the acquisition of a storage position in the area.
The firm has signed a deal to acquire the New York Harbor storage position of Element Alpha as of March 1, it said in an emailed statement on Wednesday.
The company will offer a full range of fuels in New York, with a focus on HSFO, using a time-chartered barge and storage at IMTT.
"We were offered the opportunity to expand our physical presence in the US by acquiring the assets of Element Alpha's NYH position and moving into New York, which is a very strategic move and a location that fits perfectly into our supply network," Peter Zachariassen, CEO of Bunker One, said in the statement.
"We are excited to be integrating this operation into our US network and are pleased to offer this new bunkering optionality for our customers."
Thus far Bunker One's physical supply footprint in the US has focused on Houston, New Orleans, Mobile and offshore US Gulf Coast.
"This is more than an expansion—it's a transformational move that solidifies our foothold in a global maritime fuel market," Georgia Kounalakis, managing director of Bunker One USA, said in the statement.
"Over the past years, we have built a fully integrated US supply chain, strengthened our position and are offering a level of service and efficiency that is unmatched in the industry.
"With New York now part of our network, we are unlocking new opportunities for our customers, delivering end-to-end fuel solutions on an unprecedented scale.
"And with a great team from Element joining us that comes with a wealth of knowledge, we are better fitted than ever for the future."
