Wilhelmsen Marine Fuels will be integrated as a fully owned subsidiary of OW Bunker as of 1 July 2014. As Wilhelmsen Marine Fuels is primarily a bunker broker company, the acquisition will only have a very limited effect on the total marine fuel transaction volume of OW Bunker, OW Bunker said in a statement on Tuesday.
Financial details of the acquisition deal were not disclosed.
“Wilhelmsen Marine Fuels has a strong team and an interesting customer base that fits well into OW Bunker's integrated business model. Apart from strengthening our position in Norway, Wilhelmsen Marine Fuels has the potential to support both our reselling and physical distribution activities,” said Götz Lehsten, executive vice president of OW Bunker.
Wilhelmsen Marine Fuels has brokerage offices in Oslo, London and Singapore, servicing customers on a global basis, but with a key presence in Singapore and the ARA-region (Amsterdam, Rotterdam, Antwerp).