Korean bunker firm KTB joins KPI Bridge Oil
South Korea-based KTB has joined global bunker trader KPI Bridge Oil Group effective 1 June 2016 in a merger move.
KPI Bridge Oil said the merger will strengthen the group’s foothold in the East Asian market and compliment its long established presence in Singapore, the world’s largest bunkering port.
KTB, which is now renamed to KPI Bridge Oil South Korea, will continue to be headed by Minah Kim, who established KTB in 2006.
Carsten Ladekjaer, ceo of KPI Bridge Oil Group, commented: “This merger will further strengthen the KPI Bridge Oil brand in a consolidating market and it will position us even stronger to meet today’s demands of the highest level of service from financially secure and safe counterparts.”
The merger followed KPI Bridge Oil’s acquisition of Denmark’s Trumf Bunker last year.
Source: Seatrade Maritime