Colombia Physical Supplier CI International Fuels Undergoes Restructuring

by Ship & Bunker News Team
Wednesday October 6, 2021

Colombia's authorities have put marine fuel supplier CI International Fuels into a restructuring process over financial concerns.

Colombian company regulator the Superintendencia de Sociedades added the Bogota-based firm to its list of companies in insolvency proceedings in June, according to records on the regulator's website.

CI Internacional Fuels is one of a number of entities impacted by the proceedings against parent International Energy Group, which includes International Fuels Zona Franca, International Maritime Agency, and Interconstrucción y Servicios y Combustibles Internacionales Santa Marta SA among others.

As part of the process, local media report the company owes banks some $9 million - COP8.6 million (USD$2.3m) to BBVA and COP25.6m (USD$6.76m) with Banco de Occidente.

The company has long enjoyed a presence in the bunker markets of Colombia and the Caribbean, producing, importing and supplying marine fuels and lubricants.

Company president Jaime Alberto Ochoa Muñoz is also a familiar figure in the global bunker industry, running for a seat on the IBIA board as recently as in 2021