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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Turkish supplier 'raises standards' with fleet renewal programme

14 Feb 2014 08:31 GMT

Bunker firm says it has the youngest barge fleet in the area as a result of its vessel renewal programme.



Istanbul-based physical bunker supplier Energy Petrol Shipping Trade Industry Inc. says it is 'raising standards' with its fleet renewal programme. The company has announced the addition of the double-hulled bunker barge MT Demre 4, which began operating this week.

The 2014-built 810 dwt MT Demre 4 is the fourth in a series of Energy Petrol vessels. The MT Demre 1, MT Demre 2 and MT Demre 3 were constructed in 2013.

The four MT Demre barges are able to carry intermediate fuel oil (IFO) and marine gas oil (MGO) at the same time and have a pumping rate of up to 300 cubic metres (cbm) per hour.

An additional two newbuild 1650 dwt vessels, the MT Demre 5 and MT Demre 6, are currently under construction.

Energy Petrol also recently acquired the 2001-built 3659 dwt MT Deniz M (previously named MT Safir) for its cargo replenishments.

Commenting on recent developments, CEO Mustafa Muhtaroglu said: "We are investing for the future. There is a new tanker regulation in force in Turkey that over 600 dwt single hull barges will not be allowed to work after a certain time, so we have completed our renewal programme well before it is applied. Now Energy Petrol has youngest bunker barge fleet in the area.

"We are also happy to introduce our new tanker, the 3659 dwt MT Deniz M. It is the biggest one in the area, enabling us to perform large quantity supplies in one lot using one barge. We have already received our first large order and will supply 2200 tons of fuel oil for a cape size vessel in Istanbul next week."

CFO Yesim Muhtaroglu remarked: "We have been significantly growing in time with very healthy financial results. We are operating without any cash credits, including our tanker investments."

Established in 1997, Energy Petrol claims to have a 12 percent share of the Turkish bunker market, serving clients with a total of 11 tankers.






Related Links:

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Istanbul bunker sales up 12.5%, says chairman
Turnover up 47% for Turkish supplier
Energy Petrol ready to supply 3.5% fuel
Turkish Bunker Association elects new board of directors and president

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