OW Bunker, which operates in 29 countries as a physical distributor and reseller of marine fuels with a fleet of some 30 bunker vessels, is buying the subsidiary of Norway’s Wilhelmsen Maritime Services for its broking services based in Oslo, London and Singapore.
Executive vice president of OW Bunker, Gotz Lehsten said: “Wilhelmsen Marine Fuels has a strong team and an interesting customer base that fits well into OW Bunker’s integrated business model.”
Wilhelmsen Marine Fuels will continue as a separate business within the OW Bunker group, but benefit from its financial strength, scale of business, global network and risk management solutions. It has 15 employees.
Lehsten adds that the acquisition will only have a limited effect on OW Bunker’s marine fuel transaction volumes, but will strengthen its position in Norway and has the potential to support its reselling and physical distribution activities.
The independent marine bunker group, which was set up in Denmark in 1980, listed on the Copenhagen stock exchange in March this year.
