Jan Christensen, Managing Director of Bomin Group. Image Credit: Bomin
The marine fuel supply chain is under enormous pressure from the impact that crude prices are having on margins and the new regulations that continue to transform it, Jan Christensen, Managing Director of Bomin Group, has told Ship & Bunker.
"In recent years the consolidation of the trading houses has been the most obvious symptom, but, as an industry, we're seeing its effects every day in a multitude of ways," he says.
"The reality is that this is impacting all players within the market, and companies will have to respond."
Jan Christensen, Managing Director, Bomin Group
a strategy must be set within the context of how a market is evolving if you're going to seize the potential upside of change
Bomin is no stranger to that reality, having this year announced the closure of a number of offices. Going forwards intends to operate its global business from just two, Houston and Hamburg.
Christensen has previously told Ship & Bunker such decisions had not been easy, but were the commercially responsible thing to do.
Still, Bomin is bullish on the future and believes it can thrive in both locations.
"With the proliferation of new complexities come correlated opportunities. There's no one size fits all policy for compliance come January 1 in 2020, and a strategy must be set within the context of how a market is evolving if you're going to seize the potential upside of change," he says.
"We believe that if you're well integrated with supply, storage, and provide customer service and counsel that delivers value beyond the basic price of product, sustainable profitability is achievable. We have these advantages in Hamburg and Houston, and believe that they will allow us to flourish in the years to come."