EMEA News
Energy Petrol Acquires Two More Bunker Barges
Energy Petrol has acquired two 1,481 DWT double double sister bunker barges, MT Energy M and MT Energy Y, the Istanbul-based bunker player has told Ship & Bunker.
The tankers, formerly known as Ex-Unex 1 and Ex-Unex 2, will bring Energy Petrol's total bunker barge fleet to 13.
"This is part of our barge renewal program. We already have 11 barges including the biggest fuel oil supplying barge in the area, the 3659 DWT MT DENİZ M and a series of new buildings MT DEMRE's. We now have a total of 13 barges with the largest number of double double bunker barges (6) among all players in the area," said Mustafa Muhtaroglu, Energy Petrol's CEO.
Yesim Muhtaroglu, Energy Petrol's CFO commented: "Our barge renewal investments have been done without any bank credit lines confirming the very healthy financials of the company."
Energy Petrol has a presence at 27 ports and, according to the latest figures from Turkey's Energy Market Regulatory Authority (EMRA), a 16 percent market share.
In January, Muhtaroglu told Ship & Bunker that Energy Petrol had recorded a 38 percent increase in its annual bunker sales volume for 2015, a performance that also saw monthly sales almost double in December.
