Mercuria Adds over 40 Former OW Bunker Employees
Global energy and commodities group Mercuria has hired more than 40 marine fuel specialists from Denmark-based OW Bunker, the bankrupt ship fuel supplier.
The dozens of specialists joining Mercuria will be responsible for supplying bunker fuel to consumers. With the addition of these ship fuel experts, Mercuria will explore the development of a stand-alone subsidiary, Minerva, which will ensure the quality and delivery of energy needs to marine vessels.
“This is a natural expansion of our robust fuel oil trading infrastructure,” said Magid Shenouda, Mercuria’s group head of trading. “By adding these talented professionals to our ranks, we build upon Mercuria’s skill sets and relationships in the physical fuel oil business, continue to expand the services we provide to customers and add stability and reliability to the global ship fuel market by providing services and expertise to those that rely on knowledge of the energy space.”
To house the additional specialists, Mercuria will open new offices in Korea, Greece, and Japan and add staff to growing offices in Houston and Geneva.
“With many years of experience in ship fuel management, these individuals have specialized skills to help reduce marine fuel price risk and control costs for counterparties,” said Shenouda. “Today, the Mercuria team has in-depth awareness of market developments in all the major oil trading forums. We have both a global perspective as well as local insight into real time market dynamics.”