Bunkerworks commenced operations trading marine fuels and lubricants at ports throughout India in July of last year. File Image / Pixabay
Indian marine fuel supplier Bunkerworks Marine Services has reported a change in management after a buyout by two of its founders, as well as setting up a new entity in Singapore.
Two of the firm's backers, Raj Kiran Wuddi and Arjun Sundar, now own 100% of the firm after buying up the stake of the third, Mohin Jassal, the company told Ship & Bunker on Monday.
"In spite of uncertain and difficult times worldwide, we have done well in the last financial year and are looking to consolidate this year," a company representative said by email.
"The company has set up a Singaporean entity and is also planning to move to a bigger office in Mumbai.
"There are also plans to add physical supply operations at another Indian port to complement its existing physical supply locations at Mumbai and Kakinada."
The firm has also grown its staff, the representative said.
Bunkerworks commenced operations trading marine fuels and lubricants at ports throughout India in July of last year.