Marine fuel trader Shipergy, part of Signal Group, has secured a $15m credit facility with DNB Bank.
“We will be using the new financing to support our current procurement operations and generally expand our operations globally - with a particular focus on Asia,” chief executive Daniel Rose told TradeWinds.
Shipergy will establish an office in Singapore shortly, according to Rose.
“We are committed to leveraging this opportunity to scale our operations, enhance our service offerings and continue providing unmatched value to our clients across the globe,” the CEO said in a statement.
The facility provides the funds needed to expand innovative tech and trading solutions to shipping clients and suppliers worldwide.
“With this strategic financial partnership, Shipergy is poised to further its mission of transforming the marine fuel procurement process through advanced technology and transparent trading practices,” the company added.
“This facility with DNB Bank enables Shipergy to accelerate its growth, solidify its market presence and continue contributing to the modernisation of the marine fuel supply chain.”
Shipergy is based in London and was launched within the Signal group in 2022.
From February 2023 to February 2024, the company supplied 310 vessels with fuel at 135 locations.
