Bunker broker and trader KPI Bridge Oil has announced that it has entered into an agreement to acquire OceanConnect Marine, a wholly owned subsidiary of Glencore.
The two companies will merge to create new entity KPI OceanConnect to become one of the largest independent marine fuels service and solutions providers in the world with a network across 15 locations globally and a footprint in every major maritime hub and time zone.
“Both KPI Bridge Oil and OceanConnect have a rich maritime heritage dating back almost 50 years and a reputation for integrity and trust in the market. The new entity will benefit from numerous other synergies, bringing together a wealth of knowledge, expertise and resources,” KPI Bridge Oil said in a statement.
The new entity will be led KPI Bridge Oil’s current CEO, Søren Høll.
“Our people remain our strongest asset and will play an important role in driving our growth strategy and delivering added value for our business partners going forward. All team members will benefit from fresh opportunities, being part of an ambitious new company, and we will continue our strong focus on personal and professional development as well as on providing outstanding career opportunities globally,” Høll said.