Bunker One, a physical supplier under Bunker Holding, has bought a stake in a US-based supplier headquartered in Houston. The deal gives Bunker One exclusive access to the supplier's low-sulfur fuel oil.
Bunker supplier Bunker One now opens a new office in New Orleans in the US, from where it will be ready to supply, for instance, low-sulfur fuel in 2020. The city has been on the company's radar for a long time, says Global Director Peter Zachariassen.
There will be a scramble to attract customers after 2020 when several oil majors and commodity traders will work to conquer a bigger share of the bunker market. Still, Bunker Holding aims to grow its market share, the company tells ShippingWatch.
Two events are behind the changes in the bunker market that made Bunker Holding eye a need to launch its new venture, Manager Peter Zachariassen tells ShippingWatch. One is the OW Bunker bankruptcy in 2014. The other will happen two years from now.