EMEA News
New Company PSTV Energy Takes on Mantle of Endofa DMCC
A new bunker trading unit has emerged from the ashes of Endofa DMCC in the United Arab Emirates.
Mads Uldall Borggaard, one of Endofa's original founders, has confirmed to Ship and Bunker that the new company has been set up as PSTV Energy DMCC under new owner Bunker Holdings.
The Dubai-based bunker trading company was part of Danish outfit Endofa but was run down as the parent company changed tack.
PSTV Energy is similar to the previous unit, according to maritime news provider Shippingwatch.
But its focus will be on cargo trading and supplying other bunker companies with product, the report added.
Endofa's managing director Kenn Soendergaard told Ship and Bunker last week that it was pulling out of back-to-back cargo trading to concentrate on physical supply in niche markets.
