Ian Taylor, the chairman of major charterer Vitol, has died has died at the age of 64 after a long illness.
Widely credited with transforming Vitol into one of the world’s largest trading houses, Taylor died from pneumonia after fighting with cancer for years.
“Ian was an exceptional man. He combined energy and a determination to succeed with humility, humour and humanity,” said Vitol chief executive Russell Hardy of his long-time colleague.
“He challenged all of us to be the best we could be. We owe him a great deal,” he said in a company statement.
One of the most renown traders of his generation, Taylor began his career with Shell before joining Vitol in 1985 when the Dutch firm was a small trading house.
The Oxford-educated Briton was later appointed as CEO in 1995 and held the same position until 2018. At the time of his death, Taylor remained Vitol’s chairman.
Under his tenure, Vitol had grown to be a major oil trader and tanker charterer. Figures provided by Vitol suggests the company ships 387m tonnes of crude and products per year and has 250 vessels on charter at any one time.
Vitol has claimed to be the world’s largest spot charterer, having fixed 6,962 voyages in 2019. The privately owned company also manages 100 vessels on period charters, mostly through its subsidiary Mansel.
Vitol has also been described as an opportunistic shipowner, buying and selling shipping assets from time to time. It has in recent years bought out Sargeant Marine in VALT, an asphalt tanker owner, and increased shareholding in Latvian Shipping, a product tanker manager.
One of the largest bunker suppliers, Vitol has expanded its global bunkering footprint lately.
The company bought Singapore’s Sinanju Tankers Holdings and its fleet of 15 bunkering ships, including the dual-fuelled, 7,990-dwt Marine Vicky (built 2019), in April.
Earlier this month, Vitol took over the bunker supply business at the Caribbean terminal of GTI Statia.
Clarksons data shows Vitol subsidiaries together own 47 vessels totalling 1.68m dwt, including 30 product tankers and four VLGCs.
A fan of Manchester City
In his leisure time, Taylor volunteered for the Royal Opera House, Rambert, Tate Foundation, and the Vitoria and Albert Museum, according to his LinkedIn profile.
“He believes strongly in broadening access to the arts,” the profile said.
Taylor was also known to be a long-time fan of the Manchester City football club. His family has requested no flowers and that anyone wishing to make a donation in his memory contribute to the club’s City in the Community Foundation, according to Vitol.
