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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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CYE Petrol achieves 34% jump in bunker sales in 2016

06 Mar 2017 12:52 GMT

Supplier forecasts sales of more than half a million tonnes this year.



Bunker supplier CYE Petrol Ticaret Ltd. has revealed that its sales volume increased by more than a third last year.

In 2016, the Turkish company reports it sold 430,000 metric tonnes compared to 320,000 tonnes the previous year, representing an increase of 110,000 tonnes, or 34.4 percent.

CYE Petrol has seen sales of fuel oil and distillates skyrocket in the space of four years; it has managed to achieve a jump in sales of 240,000 tonnes, or 126.3 percent, from 190,000 tonnes in 2013 to 430,000 tonnes in 2016.

The sales growth has coincided with the execution of CYE Petrol's investment plan for quality and infrastructure, which was established in 2012.

In 2013, the company began the construction of its next-generation bunker delivery vessels. Two 1,650-deadweight-tonne (dwt), double-hull bunker barges - the Kalamis-E and the Beykoz-E - were delivered in 2014 and each fitted with two Emerson Coriolis mass flow meters (MFMs) - one for fuel oil and one for marine gas oil (MGO).

In 2015, two other vessels in CYE Petrol's fleet - the 600-dwt Tarabya and the 3,600-dwt Bebek-E - each had one MFM fitted, bringing the total number of MFMs installed to six.

The company notes that it is the first and only physical bunker supplier in Turkey to use MFMs for its bunker operations, and that it has already carried out more than 6,000 MFM deliveries.

CYE Petrol also points out that its bunker storage capacity at the Poliport bulk liquid terminal increased by 300 percent last year. In total, the facility can store up to 200,000 cubic metres (cbm) of products, with tank capacities ranging between 100 cbm and 6,200 cbm.

Ali Deniz Eraydin, CEO of CYE Petrol, remarked: "Our investments for quality and transparency are very well appreciated by the ship owners. Our customers are enjoying [being able] to purchase exact quantity and quality from a market with fairly transparent supply procedures. We are forecasting a minimum 20 percent volume increase for 2017."

If CYE Petrol does achieve its 20 percent minimum target this year, then sales will increase by at least 86,000 tonnes to more than half a million tonnes.




Related Links:

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CYE Petrol Ticaret Ltd.
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