Navig8-backed bunker supplier Integr8 Fuels has launched a bunker trading desk in Brazil to serve what it describes as an increasingly dynamic market.
The company had previously serviced South America from its US offices but says now is an ideal time to establish a local operation on the back of the evolving market.
“Until two years ago, Petrobras owned the largest and almost all other local refineries in Brazil. It was the only physical bunker fuel oil supplier in the country, alongside other players that supplied the market exclusively with marine gas oil,” the company said.
“The market has since evolved, and a year ago, the first non-Petrobras bunker fuel oil delivery was made.
“Several physical bunker suppliers have made recent entries and brought fresh dynamism, more pricing opportunities and greater delivery flexibility to Brazil’s bunker market,” it added.
Integr8 Fuels said a more diverse field of fuel producers and bunker suppliers has “unlocked new opportunities”, offering informed buyers opportunities for potential benefits.
“The types of fuels available have expanded to include most of the top fuel oil and gasoil grades and a selection of lower-carbon products,” the company said.
“These supply chain developments are expected to help Brazilian ports compete with long-established bunkering ports worldwide.”
Brazilian national Lucas Oliveira, with a background in marine sales, trading, fuels distribution, new business development, and the commercial aviation market, has been appointed to lead the new trading desk.
The industrial engineer boasts an MBA degree in oil and gas management from Fundação Getulio Vargas and represents the fourth generation of his family to work in shipping.
“We are pleased to be closer to our clients in South America, offering on-the-ground support as they navigate a more complex and vibrant supply chain,” Oliveira said.
“And as the landscape continues to evolve, we’ll be strengthening both new and existing supplier relationships,” he added.
Integr8 Fuels said that in addition to providing access to all the main fuel grades, it continues to establish itself in the alternative fuels space.
“We’re geared up to assist clients in the move to lower carbon options and are strengthening our network coverage of lower carbon fuels such as biofuels and LNG,” Oliveira added.
