World News
Bomin Merger Creates One of the "World's Largest" Bunker Firms
Mabanaft GmbH & Co KG (Mabanaft) have completed their acquisition of the Bominflot Group (Bominflot) following antitrust regulators approving the planned takeover
The deal creates what the firms described as "one of the world's largest bunker companies" with Mabanaft saying they have now "acquired critical mass on the ship bunker market."
Bominflot, who has 35 years experience as a bunker supplier and 36 offices worldwide, will now be known as Bomin and have its bunkering activities merged with those of Matrix Marine Fuels (Matrix), the existing bunkering subsidiary of the Mabanaft Group, to form the Bomin Group.
Matrix have been in the bunker business for 15 years and have offices located in the US Gulf Coast, Singapore, Oman, and India.
Following the merger, Bominflot Managing Director Peter Schreiber will head the Bomin Group as CEO and will be joined by CFO Norbert Krupp.
Stefan Herde, Managing Director at Matrix, will also be a member of the management team of the Bomin Group.
Bominflot offices will be renamed Bomin, while Matrix will continue under their current brand.
A Strategic Step Forward
In Bomin's press release today, it said the merger was a "strategic step forward for Mabanaft" and would enable them to "achieve a leading position in the international bunker industry."
The merger was first announced in September 2011 with an agreement to keep pricing details confidential and Mabanaft saying the merger would make them "one of the world's five largest bunkering groups."
Mabanaft, is a trading division of Hamburg-based firm, Marquard & Bahls AG, a privately-owned company and describes itself as "leading independent wholesalers of petroleum products in Europe and the world's second largest operator of tank terminals."
Of the future, Marquard & Bahls, said the company will continue as an independent corporation expanding "both vertically and horizontally, in its core competences – oil trading and the tank terminal business."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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