Ali Deniz Eraydin, CEO of CYE Petrol. Image Credit: CYE Petrol
Turkish player CYE Petrol has credited its investment in bunkering infrastructure, including mass flow meters (MFMs), as the main reason for a near tripling of the physical supplier's bunker sales over the last four years.
Ali Deniz Eraydin, CEO of CYE Petrol, told Ship & Bunker its sales in 2017 were 533,000 metric tonnes (mt), an increase of some 25% over the 424,000 mt supplied in 2016.
The 2017 total is also over 280% higher than the 190,000 mt the physical player sold in 2013.
"CYE Petrol started investments for new generation bunker barges and "coriolis mass flow meters" (CMFM) in 2013," said Eraydin.
"In 2014, 230,000 mt of bunkers were supplied and two bunker barges were fitted with CMFM for trial supplies. In 2015, 320,000 mt of bunkers were supplied and all bunker barges were fitted with CMFM. In this year CYE Petrol was also elected as the 'Best Bunker Company in Turkey' by Golden Anchor Awards."
While full year bunker sales figures are not yet available, during the fist six months of 2017 İstanbul's bunker market as a whole was enjoying a 13% increase in bunker sales.