Genoa-based Fratelli Cosulich Group has just announced that a new office in Dubai has been opened to strengthen its position in the Middle Eastern market for bunker trading, especially in the nearby port of Fujairah. The Italian family-owned conglomerate thus added a seventh base in its international network with direct offices based in Genoa, Hong Kong, Monaco, Singapore, Haiphong and New York.
Fratelli Cosulich Middle East DMCC will operate in a market region considered strategic for the group.
“It’s not only for bunker trading but also for other activities our company is involved in, such as ship catering, crewing, freight forwarding and yachting,” Timothy Cosulich, ceo of the company, told Splash. The budget for the first year of activity in Dubai is to trade some 500,000 tons of bunkers.
In 2016 Fratelli Cosulich, which acts also as a physical supplier in the port of Singapore, sold some 5m tons of bunkers worlwide and has recently bought a second-hand bunker tanker renamed Luisella Cosulich.
“The last new entry was the fifth unit in our fleet active in Singapore but we are already looking for the sixth on the market,” said Cosulich.