OW BUNKER STRENGTHENS PHYSICAL DISTRIBUTION CAPABILITIES WITH THE TIME CHARTER OF AN ADDITIONAL BARGE IN THE PANAMA CANAL
Panama Canal to play a key role in changing regional marine fuel dynamics
OW Bunker, one of the world’s leading physical distributors and resellers of marine fuels, today announced that it has time chartered an additional barge in Panama to further strengthen its physical operations. The move reinforces the company’s ongoing commitment to its customers operating along the Panama Canal, helping them to effectively navigate the region’s changing fuel dynamics.
OW Bunker’s new vessel in the region is the 3778 dwt, double-hulled Star Goethals which is equipped for delivering a full range of quality products, including low sulphur and high sulphur fuel, as well as MGO. This complements the 3255 dwt Star Baltic, which OW Bunker has been utilising since 2010. Both vessels have fast pumping rates to quickly and efficiently provide customers with a wide range of fully tested and independently verified marine fuels.
Adrian Tolson, Regional Manager, North America, OW Bunker said:
“Panama’s marine fuel market is undergoing a period of change, driven by the widening of the Canal which will exert a shift in regional trade routes and impact fuel demands across the Americas. As these dynamics continue to evolve, OW Bunker is committed to helping ship owners and operators plan their fuel sourcing throughout the Americas, including Panama. Boosting our physical infrastructure by time chartering another barge, further enhances our delivery capacity and underlines our commitment to providing customers with flexible and efficient solutions in this pivotal location. Furthermore, by co-ordinating physical distribution for customers through our network spanning the south and west coasts of North America, Panama and wider Latin America, OW Bunker is well positioned to work with customers in maximising their operational efficiencies going forward.”
OW Bunker has been operating in Panama as a physical fuel distributor since 2009. Complementing this offering, the company also has physical distribution operations offshore in the Gulf of Mexico and in Houston, as well as recently launched operations at the ports of Los Angeles and Long Beach in North America.
Mr Tolson shared his insights into Panama’s unique position amidst shifting trade and bunker trends and the subsequent implications for the maritime market at the Maritime Week Americas conference, currently underway in Panama.
About OW Bunker:
OW Bunker is a leading global independent marine fuel (bunker) company founded in Denmark in 1980 with operations in 29 countries, including the world’s busiest and most important ports. OW Bunker acts as a physical distributor as well as reseller of marine fuel, and operates a global fleet of around 30 bunker vessels. OW Bunker also provides advanced risk management solutions aimed at controlling costs, minimising risk and protecting against market fluctuations. Headquartered in Nørresundby, Denmark, OW Bunker is listed on the NASDAQ OMX Copenhagen and has over 600 employees globally. Read more on www.owbunker.com