Singapore's Dynamic Oil Trading Plans Further Expansion in 2014

CEO Lars Møller says Dynamic had a very positive first year.

Singapore headquartered Dynamic Oil Trading has declared a successful first year of operations since its launch a year ago and is planning further expansion in 2014, the company said in an emailed press release.

"We expect to grow further in the year ahead, including the potential for the expansion of our network of offices within Europe and Asia to complement our offices in Singapore and Dubai," said CEO Lars Møller

The global marine fuels and lubricants trader said over the last 12 months it had experienced both a high sales performance and rapid expansion, having announced plans to open an office in Dubai last June.

"We have had a very positive first year with high monthly sales volumes and a consistently strong financial performance," commented Møller, who attributed the firm's performance to date on the experience of their team, and their financial backing.

"We [have a] strong financial backing, which is a real differentiator in today's market. At a time when many shipping companies are struggling to secure lines of credit, this means that we can offer extremely competitive terms, where appropriate, to our customers."

Looking ahead, the company predicts market conditions will remain challenging over the course of the next 12 months, with limited access to credit, rising and volatile bunker prices, and depressed charter rates amid ongoing concerns over over-capacity.

"As the shipping industry continues to strive against the tough economic conditions and a changing regulatory environment, our focus will remain on helping our customers to meet the challenges that they face and fulfilling our core goal of ensuring that they get the quality and quantity of fuel they need, whenever and wherever they need it, at the right price and on the right payment terms," concluded Møller.