Bomin to Exit Singapore and Antwerp Bunker Markets
- Business & Finance
Supplier of marine fuels, the Bomin Group, has decided to exit the bunker markets in Singapore and Antwerp ahead of the 2020 sulphur cap.
Following this move, the company will operate from Houston and Hamburg offices, serving its customers in all German ports, the US Gulf Coast, Panama, Norfolk, and Ecuador.
“The Bomin Group is in a transformation and restructuring process and intense competition and low margins characterize the situation in all major ports,” Jan Christensen, Managing Director of Bomin Group, said.
“We see many bunker companies making major adjustments to their operating models in preparation for IMO 2020.”
The company informed that the closure of operations in Singapore and Antwerp are scheduled to take place this year.