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KPI Bridge Oil, a global trader and broker of marine fuels, marine lubricants and risk management products, has announced that South Korean firm KTB Oil Corp has become a member of KPI Bridge Oil Group as of June 1, 2016.

In a statement, KPI Bridge Oil said: "The merger is part of the company's growth strategy for 2016 and will enhance KPI Bridge Oil's East Asian market leverage, complementing the group's long established Singapore presence."

The merger comes a year after the group's acquisition of Denmark-based Trumf Bunker - which recently became a fully fledged physical supplier - and the establishment of a new office in Greece in December.

Commenting on KTB's standing in the bunker market, KPI Bridge Oil stated: "KTB has earned a strong reputation in South Korea and the wider East Asian Market since its establishment by Minah Kim in 2006."

Minah Kim, KTB's managing director up until the merger, and managing director of newly named KPI Bridge Oil South Korea, remarked: "We are extremely pleased to join the KPI Bridge Oil group. Our experienced and professional team will benefit immensely from the increased capabilities and opportunities that comes with joining a strong global organisation which has an extensive network of partners around the world and is renowned for its efficient and people focussed organisation."

Carsten Ladekjaer, CEO of KPI Bridge Oil Group, commented: "The KPI Bridge Oil brand enjoys a sound reputation worldwide for its solid performance and excellent track record in servicing some of the world's finest shipping companies for more than 45 years. We are honoured to welcome the former KTB team into our group. 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."