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Aegean enters Russian bunker market, hires five ex-OW Bunker staff

Aegean enters Russian bunker market, hires five ex-OW Bunker staff
Greece’s Aegean Marine Petroleum Network Inc has expanded to Russia with a marketing operation, employing five experienced bunker traders formerly with the now-defunct OW Bunker.

The marketing and business development office, located in St Petersburg, will be dedicated to sales and marketing of marine fuels across all Russian ports, Aegean announced.

The marine fuels supplier expects to gain important local market intelligence with the help of the former OW bunker employees.

Nikolas Tavlarios, president of Aegean, commented: “This expansion is consistent with our opportunistic efforts to diversify our operations and enhance our global footprint.

“We believe that our expansion into Russia, combined with our recent entry into the US Gulf Coast, US West Coast, and German markets, demonstrates our continued actions to strengthen the Aegean network around the world.”

Aegean’s latest entry into Russia is the fourth time in recent weeks that the company has expanded by capitalising on the bankruptcy of OW Bunker in November last year.

Earlier this month, Aegean took over bunker charter contracts previously under OW Bunker to launch operations in Germany’s Hamburg. In December last year, Aegean also took over OW Bunker’s operations in Gulf of Mexico, and Los Angeles and Long Beach.