Americas News
Bomin: Our Bunker Business is "Full Steam Ahead" in the Americas
After scaling back its presence in a number of global markets, Bomin has delivered a bullish reassurance of its prospects in the Americas, where it says its bunker business is "full steam ahead.”
"Bomin has always performed well in the Americas and I am confident that this will continue. Put simply, we have a good business model with the right team and the right customers," says Philip Chesson, President of Houston-based Bomin Bunker Oil Corp.
After moving to a “four-hub” business model at the end of 2016, with bases in Hamburg, Houston, Dubai, and Singapore, last year the supplier first closed the Dubai office and later announced its exit from Singapore and Antwerp.
And while Bomin Group's headquarters remain in Hamburg, last month Trefoil Trading BV took over the two bunker barges it operated there.
"We will continue to meet our customers' marine fuel needs in our physical locations of Houston, Panama and Virginia. We will also continue to assist our customers to secure fuel supplies throughout the Americas in ports where Bomin is not physical," says Chesson.
Bomin’s restructuring comes ahead of the industry-wide challenges presented by the upcoming global 0.50% sulfur cap on marine fuel that comes into force from January 1, 2020, although Bomin says it sees IMO2020 creating “enhanced market opportunities” in the Americas.
“This is not to say that the introduction of low sulfur limits in 2020 will be straightforward but we are prepared to support our customers as we all transition into the new low sulfur environment,” Chesson adds.
Bomin says for the post-2020 market it will continue to supply IFO bunkers to customers whose vessels have scrubbers fitted, as well as gasoil and the new 0.50%S fuels.
“We will continue to work closely with our customers to better understand and accommodate their purchasing requirements as the year progresses and this will shape our exact offering as we close in on 2020,” says Chesson.
