Mercuria’s Bunkering Arm Looking to Boost Ranks

Swiss energy and commodity group Mercuria is looking at expansion opportunities for the group’s maritime fuel business, Minerva.

The group wants to boost its bunkering staff ranks by bringing fresh talent across its branches in Asia, Europe and the United States.

Substantial resources are being invested into the group’s bunkering business, head of the Mercuria’s global trading Magid Shenouda said in a statement.

“We are building upon Mercuria’s skill sets and balance sheet to expand relationships in the physical fuel oil business. As a result, we are seeking the very best marine fuel talent to join our vigorous trading environment and provide expertise to those that rely on knowledge of the energy space. We look forward to filling these positions in Asia, Europe and the United States,” said Shenouda.

“We believe we are forging a strong new model in the maritime fuel business. This is a transparent and reliable model that puts the client first to ensure the quality and delivery of their energy needs to their marine vessels,” he added.

Mercuria hired more than 40 marine fuel specialists from Denmark-based OW Bunker that went bankrupt last year.

To house the additional specialists, Mercuria said it would open new offices in Korea, Greece, and Japan and add staff to growing offices in Houston and Geneva.

However, more than half of a South Korea-based marine fuel trading team taken on following the collapse of OW Bunker has left after just over three months, Reuters cited trading sources as saying.

As reported, the traders who have left are now in talks to join World Fuel Services, the largest marine fuel trader in South Korea.

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