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Energy and commodities group Mercuria has confirmed that it has hired more than 40 former specialists from bankrupt marine fuel supplier OW Bunker.

In a statement, Magid Shenouda, Mercuria's group head of trading, said: "This is a natural expansion of our robust fuel oil trading infrastructure. By adding these talented professionals to our ranks, we build upon Mercuria's skill sets and relationships in the physical fuel oil business, continue to expand the services we provide to customers and add stability and reliability to the global ship fuel market by providing services and expertise to those that rely on knowledge of the energy space."

The newly hired members of staff will be responsible for the sale of bunker fuel to clients, thus expanding the services Mercuria offers as a physical commodities and energy trader.

"With the addition of these ship fuel experts, Mercuria will explore the development of a stand-alone subsidiary, Minerva, which will ensure the quality and delivery of energy needs to marine vessels," Mercuria said.

To house the additional specialists, Mercuria said it will be opening new offices in South Korea, Greece, and Japan and add staff to growing offices in Houston and Geneva.

"With existing and additional staff, Mercuria will continue to provide the reassurance of delivering fuel on specification and on time," the company stated.

Shenouda added: "With many years of experience in ship fuel management, these individuals have specialized skills to help reduce marine fuel price risk and control costs for counterparties. Today, the Mercuria team has in-depth awareness of market developments in all the major oil trading forums. We have both a global perspective as well as local insight into real-time market dynamics."

Mercuria is an energy and commodity group which posted a 2013 turnover of US$112 billion. The group recently completed the acquisition of the physical commodities trading unit of J.P. Morgan Chase and Co.