Business news
Minerva Bunkering Acquires CEPSA Panama SA
17.12.2019
GENEVA
Minerva Bunkering (Pte) Ltd has purchased 100 percent of the share capital of CEPSA Panama SA from COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A for an undisclosed amount.
"As one of the shipping industry's great transit points, Panama is another key location where Minerva can add value to its customer base by providing reliable physical bunkering solutions," said Tyler Baron, CEO of Minerva. "With our strategic sources of low-sulfur fuel on the US Gulf Coast and West Coast, Minerva is well positioned to enhance the Panama market's supply base in 2020 and beyond."
CEPSA Panama's name will be changed to align with Minerva's ownership and it will join Minerva's global physical network spanning 30 ports. The company will continue to supply customers on both sides of the canal, with local staff supported by Minerva's teams based in New York and Houston.
Minerva Bunkering is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea. Minerva operates from hubs in Geneva, New York, Singapore, Athens, ARA (Amsterdam, Rotterdam, Antwerp), and Las Palmas. Minerva serves customers around the globe with efficient, transparent, and environmentally responsible marine fuel solutions.
Minerva Bunkering is a 100-percent-owned subsidiary of Mercuria Energy Group, one of the largest privately-held energy and commodities companies in the world.
For additional information, please visit www.minervabunkering.com.
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